Getting paid through Skydo does not take your invoices out of the EDF regime; it adds a step between your client and your Indian bank. The money still ends up credited to an Indian account, and the bank where that foreign payment is finally credited is normally your AD bank for the EDF. Your job is to confirm that with your bank, get the right payment evidence for each invoice, and record fees correctly when the net amount differs from the invoice.
Key takeaways
- Skydo is a collection route, not a substitute for the EDF. Covered exporters still file one EDF a month for invoices dated from 1 October 2026.
- Ask your bank whether it treats Skydo-routed receipts as inward remittances it will match against your EDF, and how they appear on your statement.
- You need evidence linking each payout to an invoice: a FIRA, FIRC or payment advice. Check Skydo's current India help pages for what it provides.
- Platform fees and conversion margins can make the credited amount smaller than the invoice. Record both values and the net realisable value accurately.
- If your bank needs extra documents to match a platform receipt, give them promptly so the EDPMS entry closes.
How a Skydo payment typically travels
Collection platforms generally let a foreign client pay into a local-currency account or link, then move the funds to India and credit your Indian bank account. We have not verified Skydo's exact flow, entities or partner banks, and those details can change. Read Skydo's current India help pages and your agreement with them before relying on any specific step.
What matters for the EDF is the end of the chain:
| Question | Why it matters for your EDF | Where to get the answer |
|---|---|---|
| Which Indian bank credits the money to you? | That bank is normally your AD bank and receives your EDF | Your bank statement and your bank |
| Does the credit appear as a foreign inward remittance? | The bank must be able to match it against EDPMS entries | Your bank |
| What purpose code is attached? | Must match your service | Skydo's documents and your bank |
| What document links the payout to your invoice? | Needed to close entries over ₹10 lakh | Skydo's help pages and your bank |
| What fees were deducted, and where? | Affects the amount realised and NRV | Skydo's statement |
For a broader picture of how these platforms fit into cross-border payments, the glossary entry on cross-border payment aggregators is a useful primer.
Who is your AD bank?
The AD bank is normally the Authorised Dealer Category-I bank where the foreign money lands. With a platform in the middle, "lands" can be ambiguous: is it a bank used by the platform, or the bank holding your own account?
For your EDF, start from your own bank. If your current account at, say, a private bank is credited with a Skydo payout and that bank treats it as an export receipt, that bank is the natural place for your EDF. Ask your relationship manager directly: "When I receive payouts via Skydo, do you treat them as export inward remittances, and should my EDF be filed with you?" Get the answer in writing.
Getting FIRA, FIRC or payment advice
For invoices up to ₹10 lakh, your bank may close EDPMS entries on your periodic realisation declaration. Above that, it needs the invoice, payment evidence and matching instructions.
Payment evidence for a platform receipt could come from the platform, your bank, or both. Check Skydo's current help pages for what it issues and how to download it. If your bank issues a FIRA for the credit, collect that too. If neither arrives automatically, write to your bank with the FIRC request letter.
When you have the document, check that it shows your name, the currency and amount, the date, and a purpose code that fits your service.
Matching invoices to payouts
Platforms sometimes batch several client payments into one transfer to your bank, or split one client payment across days. Your bank sees credits; your EDF lists invoices. Bridge the gap with a simple matching sheet:
| Invoice | Client | Invoice amount | Payout date | Gross received | Fees | Net credited (INR) |
|---|---|---|---|---|---|---|
| ASH/26/071 | Larkspur Inc (USA) | USD 3,000 | 14 Dec 2026 | USD 3,000 | USD 21 | ₹2,48,600 |
| ASH/26/072 | Tern & Co Ltd (UK) | GBP 1,800 | 14 Dec 2026 | GBP 1,800 | GBP 13 | ₹1,89,900 |
(Fees and INR figures are illustrative, not Skydo's actual pricing.)
Keep this sheet with your EDF copies. When the bank asks how a batch credit relates to your invoices, you have the answer in one place.
Fees, NRV and short receipts
Part 2B asks for both the invoice amount and the net realisable value for each invoice. When a platform deducts fees, the amount that finally reaches you is less than what the client paid. How to reflect those deductions in NRV, and whether your bank wants NRV to show the expected net amount, are questions to settle with your bank and CA. Our article on calculating NRV explains the concept.
Whatever approach you take, keep the platform statement showing the gross amount, each fee and the net payout. If the client paid in full but fees reduced the credit, that is a different story from a client short-paying, and your records should show which happened.
A worked example
Asha Design Studio, a proprietorship in Kochi, gets paid by US and UK clients through Skydo. Its December 2026 invoices were the two shown in the matching sheet above.
Asha files one EDF for December with two Part 2B rows, due 30 January 2027, at the private bank where Skydo payouts are credited, after the bank confirmed it would accept the EDF and match those credits. Both invoices are under ₹10 lakh, so Asha includes them in her quarterly realisation declaration. She keeps Skydo's payout statement and the bank's credit advice together in a folder named for the EDF month.
If you are comparing platforms, our guide on getting paid through Wise covers a similar set of questions for a different route.
What to check in Skydo's help pages
Before you rely on any assumption, look up these points in Skydo's current India help pages or ask its support:
- Which document Skydo issues for each payout and whether it shows a purpose code.
- How fees and conversion are shown on statements.
- Whether payouts are made per client payment or batched.
- How to correct a purpose code or payer detail if something is wrong.
This article is general information, not legal or tax advice, and not a description of Skydo's policies.
Frequently asked questions
Do I need to file an EDF if my client pays through Skydo?
Yes, if you are a covered exporter such as a company, LLP, firm or proprietorship. The payment route does not change the obligation. File one EDF per month listing all foreign invoices, within 30 days from the end of the invoice month.
Which bank is my AD bank when I use Skydo?
Normally the bank where the foreign payment is finally credited to your account. Confirm with that bank that it treats Skydo payouts as export receipts and will accept your EDF.
Does Skydo provide a FIRA or FIRC?
Check Skydo's current India help pages for the documents it issues. Ask your bank as well, since it may issue its own advice for the credit. You need some form of payment evidence for invoices above ₹10 lakh.
How do I show Skydo's fees on the EDF?
Part 2B has columns for invoice amount and net realisable value. Agree with your bank and CA how fees should be reflected, and keep platform statements showing gross, fees and net for every payout.
What if Skydo combines several client payments into one credit?
Prepare a matching sheet listing each invoice, payout date, gross amount, fees and net credit. Share it with your bank when you send matching instructions so the right EDPMS entries close.
Bottom line
Skydo changes how money reaches you, not what you must declare. Confirm your AD bank, collect payment evidence for every payout and keep a clean invoice-to-payout matching sheet. Then build your monthly declaration with the free EDF form generator.
This guide is general information for Indian businesses, not legal or tax advice. Rules and bank processes change — confirm specifics with your AD bank or chartered accountant.