What is Realisation?
In export rules, realisation means getting paid. An export is "realised" when the money for it, in foreign exchange or in permitted Indian rupees, has been received by the exporter through the banking channel. Until that happens, RBI's systems treat the export as outstanding. The word is close to everyday accounting language, but in FEMA it carries a specific compliance meaning tied to deadlines and evidence.
Why it matters for exporters
The 2026 export regulations require the full export value of services to be realised within 9 months from the invoice date, or 12 months where the export is invoiced or settled in Indian rupees (Regulation 5(1)(a)). Your AD bank can extend the period on a reasoned request. Once money arrives, the bank matches it to the EDPMS entry and closes it, and an eBRC can follow.
How the entry is closed depends on size. For invoices up to ₹10 lakh, the bank may close it on your declaration that the money has been realised, given periodically if you like. Our realisation declaration tool drafts that letter. Above ₹10 lakh, the bank expects the invoice, a FIRA, FIRC or bank advice, and matching instructions.
Example
Pebble Studio invoices a Dutch client EUR 4,000 (about ₹3,72,000) on 15 November 2026. The 9-month window runs to mid-August 2027. The client pays in February 2027, net of a small bank charge. Pebble includes the invoice in its quarterly realisation declaration and the bank closes the entry.
Common confusion
Realisation is not the same as filing the EDF. Filing is about declaring the export within 30 days of the invoice month; realisation is about the money coming in within the allowed period. You can file on time and still have a realisation problem, or the other way round. See the 9-month realisation rule.