P1505 Purpose Code: Deemed exports
P1505 is the RBI purpose code for: Deemed Exports (SEZ, EPZs & DTAs). It sits in group 15, Others, of the receipt purposes RBI uses to classify foreign exchange coming into India.
P1505 at a glance
| Code | P1505 |
| RBI wording | Deemed Exports (exports between SEZ, EPZs and Domestic Tariff Areas) |
| RBI group | 15, Others |
| Status | In RBI's receipt purpose list |
| eBRC on DGFT | Yes, deemed exports |
| Who attaches it | The AD bank that receives the payment |
Can a P1505 remittance become an eBRC?
Yes. DGFT's guidelines say "P0103 can be clubbed with P1505 to generate eBRC", so a deemed export receipt under P1505 can be certified, alone or together with an advance under P0103.
The rule is DGFT’s, from its General Guidelines for Generating eBRC (last updated 26 March 2024). The full list, and what each rule means when you map remittances, is in how to generate an eBRC on the DGFT portal.
What this code says about the money
A purpose code is your bank speaking, not you. When a foreign payment reaches your account, the AD bank reports it with a purpose code that states the RBI classification of the transaction, and that report is the Inward Remittance Message, the IRM. A remittance carrying P1505 has been classified as: Deemed Exports (SEZ, EPZs & DTAs).
In FETERS reporting
FETERS is the Foreign Exchange Transactions Electronic Reporting System, the system under which Authorised Dealer banks report their foreign exchange transactions to the RBI, and its receipt purpose list is where P1505 is defined. That list, Annex I to A.P. (DIR Series) Circular No. 84 dated 29 February 2012, places P1505 in group 15, Others, and describes it as: Deemed Exports (exports between SEZ, EPZs and Domestic Tariff Areas). That is the wording a bank’s reporting desk works from, so it is the wording to match when you ask the bank what a remittance was reported as.
P1505 or a neighbouring code
The codes below are the ones most easily confused with P1505. The difference is in RBI’s wording, so the table quotes it, with what DGFT allows for each.
| Code | RBI wording | eBRC on DGFT |
|---|---|---|
| P1505 | Deemed Exports (exports between SEZ, EPZs and Domestic Tariff Areas) | Yes, deemed exports |
| P0101 | Value of export bills negotiated / purchased/discounted etc. (covered under GR/PP/SOFTEX/EC copy of shipping bills etc.), Other than Nepal and Bhutan | No, DGFT excludes it |
| P0103 | Advance receipts against export contracts, which will be covered later by GR/PP/SOFTEX/SDF, other than Nepal and Bhutan | Yes, alone or clubbed |
| P1501 | Refunds / rebates on account of imports | Not an export receipt |
If the code on your remittance looks wrong
The code is attached at reporting time by the bank, so the fix runs through the bank, not through DGFT. Ask the AD branch that received the payment to confirm the classification; an amended report shows up as a revised IRM. What each IRM status means, and what you can do with a remittance in each state, is in the IRM explainer, and the errors DGFT returns when a code does not fit the filing are in IRM mapping errors on DGFT. Exporters who agree the purpose code with their buyer's bank once, at onboarding, rarely meet this page twice.