What is purpose code P0201?

Purpose code P0201 is one of the transport codes in RBI's list of purposes for money coming into India. It is narrow: it is for Indian shipping companies that operate abroad and bring their surplus freight or passenger fare earnings home.⁴⁵ Most service exporters will never need it.⁴

What does the P0201 purpose code cover?

The P0201 purpose code covers surplus freight or passenger fare that Indian shipping companies operating abroad receive in India.⁴⁵ DGFT's purpose code to SAC mapping reproduces the same wording.²

• Official description: "Receipts of surplus freight/passenger fare by Indian shipping companies operating abroad".⁴⁵
• BOP group: P02, "Transport".⁴
• Direction: receipt, meaning money coming into India.¹
• Source list: A.P. (DIR Series) Circular No. 84 dated 29 February 2012 told banks to report all foreign exchange transactions under a revised purpose code list from April 2012.¹

RBI's annex PDF showed a captcha page when this page was checked, so the wording above is quoted from the HDFC Bank and DBS Bank India reproductions, which match each other word for word.⁴⁵

When should you use the P0201 purpose code?

Use the P0201 purpose code only when an Indian shipping company operating abroad remits surplus freight or passenger fare to India.⁴

• Payee: the description names an Indian shipping company.
• Money: the description names surplus freight or passenger fare.

The description names both the payee and the money, so it does not fit fees for professional services.

Who uses the P0201 purpose code?

The P0201 purpose code is used by Indian shipping companies operating abroad.⁴

• Shipping lines: remit surplus freight earned abroad.
• Passenger shipping operators: remit surplus passenger fare earned abroad.

A purpose code states the purpose for which a transaction is made, according to DGFT.³ So the code follows what you are paid for, whatever your client's industry. A developer building a booking system for a foreign shipping line, a designer producing its brochures or a consultant advising it on operations would look at codes in groups P08 (computer services) or P10 (other business services) instead.⁴

What transactions are covered under P0201?

Transactions covered under P0201 are surplus freight or passenger fare remitted by Indian shipping companies operating abroad.⁴

• Surplus freight: For example, an Indian shipping company operating abroad remits its surplus freight earnings to India.
• Surplus passenger fare: For example, an Indian ferry operator abroad remits surplus passenger fare to India.
• Ticket reservations: For example, the shipping company's reservation receipts, which match SACs 998551 and 998552 in DGFT's mapping.²
• Package tour bookings: For example, cruise bookings, which DGFT's SAC 998552 describes as reservation services for accommodation, cruises and package tours.²

Each example is money earned by an Indian shipping company abroad.

When should you not use the P0201 purpose code?

Do not use the P0201 purpose code for professional fees, airline earnings or port and forwarding charges.⁴⁵

• Indian airline surplus fare: use P0207, "Receipts of surplus freight/passenger fare by Indian Airlines companies operating abroad."⁴
• Stevedoring, demurrage or port handling (shipping): use P0214.⁴
• Clearing and forwarding fees: DGFT's mapping links SAC 996713 to P0214, P0215, P0218, P0221, P1019 and P1099.²
• Customs House Agent fees: DGFT's mapping links SAC 996712 to P1002, P1019 and P1099.²

A freight forwarder or customs clearing agent is not a shipping company, so ask your bank which of these it expects for your contract.

What documents are required for P0201?

No RBI document lists papers specific to P0201; your bank's own policy sets them. The FEMA (Export and Import of Goods and Services) Regulations, 2026 require each bank to have a policy and standard operating procedure listing documents, timelines and charges, published on its website.⁶

• Invoice: a service description and Services Accounting Code (SAC) that match the P0201 description. DGFT says you must choose the SAC that corresponds to the purpose code when you generate an electronic Bank Realisation Certificate (e-BRC).³
• Export Declaration Form (EDF): where the receipt is for an export of services, the 2026 Regulations ask every exporter of services to give an EDF to the specified authority, usually the AD bank, within 30 days from the end of the month of invoicing.⁶
• Bank record: the bank's credit advice or Foreign Inward Remittance Advice (FIRA) showing the code it reported.

DGFT's purpose code to SAC mapping (Version 1.0, 10 November 2023) lists these SACs against P0201:²

The mapping is many-to-many, so the same SAC can appear against several purpose codes.²

How do you declare the P0201 purpose code?

You declare the P0201 purpose code by telling your bank the purpose when the payment arrives, then using the matching SAC for the e-BRC.¹³

1. Match the work to the description: Compare what the client pays for with the RBI description of P0201, "Receipts of surplus freight/passenger fare by Indian shipping companies operating abroad", and with the codes listed under related codes below.⁴
2. Put the matching SAC on the invoice: Use a SAC that DGFT's mapping lists against P0201, so the invoice can later be linked to the payment on the DGFT portal.²
3. Tell the bank or payer the code: Give P0201 to your bank, or to the platform or payer that asks for a purpose, before the money is credited.¹
4. Check the credit advice: Check that the bank's credit advice or FIRA shows P0201, and ask the bank to amend it straight away if it does not.³
5. Generate the e-BRC: On the DGFT portal, link the bank's inward remittance message (IRM) to your invoice and choose the SAC that corresponds to P0201.⁹³

Banks report the code they record, so the code on the bank's record is the one that counts.

How does the P0201 purpose code affect FIRA, GST and income tax?

The P0201 purpose code is a reporting code under RBI's FETERS reporting, used for a narrow kind of transport receipt.¹⁴

• FIRA and e-BRC: the e-BRC is now self-generated by the exporter on the DGFT portal from the inward remittance message (IRM) data the bank sends, and DGFT says you choose the SAC that corresponds to the purpose code on the remittance.⁹³ Check that the bank's FIRA or credit advice shows P0201 before you use it as payment evidence.
• GST: a supply is an export of services only when all five conditions of section 2(6) of the IGST Act are met, including a place of supply outside India.⁷ When the supplier or recipient is outside India, the default place of supply is the location of the recipient, with special rules in section 13(3) to 13(13), so check the rule for the service.⁸
• Income tax: the Income-tax Act, 2025 has applied from 1 April 2026, and tax year 2026-27 runs from 1 April 2026 to 31 March 2027.¹⁰ Income tax is worked out on the income under that Act.

How GST and income tax apply depends on your contract and facts, so confirm with a chartered accountant.

What are the common mistakes with the P0201 purpose code?

The common mistakes with the P0201 purpose code come from coding by the client's industry.³

• Using P0201 for services to a shipping client: software, design or consulting for a shipping line uses a P08 or P10 code.⁴
• Using P0201 for airline earnings: the airline equivalent is P0207.⁴
• Using P0201 for forwarding fees: freight forwarders and clearing agents use the codes DGFT maps to their SAC.²
• Choosing an unmapped SAC: DGFT says you must choose the SAC that corresponds to the purpose code on the remittance.³

To fix a wrong code, ask the bank that credited the payment. DGFT's eBRC FAQs say exporters must contact the bank to request a purpose code change, and that banks can amend the IRM they report to DGFT.³ The full steps are in how to correct a purpose code after payment.

Which purpose codes are related to P0201?

The group P02 codes below differ from P0201 in who receives the money and what it is for.⁴⁵

To compare every receipt code, see the RBI purpose codes list for exporters, or shortlist codes with the purpose code finder. Where a payment could fit more than one description, confirm the code with your bank or a chartered accountant before the money is credited.