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Six ideas explain the whole platform. Read them once and every endpoint reads itself.

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Scrips

A duty credit scrip is a transferable electronic credit from the Government of India that pays basic customs duty rupee-for-rupee. Exporters earn them as an export incentive; importers spend them against duty on imports. ScripX is the venue where the two sides meet. The two schemes are RODTEP and ROSCTL, the only values of the scheme enum across the API. See What is a scrip?, RoDTEP explained, RoSCTL explained and the Schemes annexure. Three properties matter for integration:
  • Scrips transfer whole. A credit is not split in a sale. A buy requirement is covered by a bundle of whole credits, with any shortfall shown as residual_paise.
  • Scrips expire. Every credit carries a validity window, one year from creation in the customs ledger, unaffected by transfer. Unsold, unspent credits go to zero, which is why idle inventory gets sold. See Scrip validity and expiry.
  • Scrips transfer once. A credit moves from its holder to one transferee with a valid IEC on ICEGATE, and not onward from there. Buyers buy to consume. See Scrip transfer on ICEGATE explained.

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The Scrip Reference Rate (SRR)

The Scrip Reference Rate is ScripX’s published benchmark price for scrips, by scheme and expiry band, every trading day. It is the anchor a firm quote is built from: every quote is one firm price benchmarked to the SRR, and a sell-side quote holds for a fixed firm window (valid_until). The SRR is published on the public, no-key surface so anyone can see the number the market is pricing against:
The SRR is a benchmark published for information. A tradable price for an exact amount always comes from a firm quote; never interpolate your own price off the index.

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Provenance screening

No scrip is listed until it clears provenance screening. Before a credit can be quoted or sold, its origin is traced to the shipping bill it derives from, the selling firm is KYC-verified, and the credit’s title and live status are confirmed in the ICEGATE ledger. For an integrator this reduces to one flag: a credit showing sellable: true on a firm’s credits has passed screening and is safe to quote and trade. Buyers get provenance on every scrip without running the checks themselves.

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Delivery-versus-payment settlement

ScripX settles delivery-versus-payment (DvP): title and money move together, or neither moves.
  • Buyer funds are locked before the scrip moves.
  • The scrip transfers seller to buyer on ICEGATE.
  • The seller payout fires on ICEGATE confirmation of the transfer, by IMPS, with a UTR on the receipt, in minutes, same business day (T+0).
  • A settlement that cannot complete unwinds safely and refunds in full the same day.
Your integration reads results rather than driving the rails: subscribe to webhooks for order.matched, settlement.settled, settlement.failed and payout.sent, or poll positions.

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The UTR on every payout

Every completed seller payout carries a bank UTR (Unique Transaction Reference). It is the auditable proof that money moved and the reconciliation key your finance team keys on. Payout events and the audit export carry it through to the tamper-evident record.

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HSN 4907 and GST

A scrip sale is GST-exempt: duty credit scrips fall under HSN 4907, exempt under Notification 02/2017. There is no GST on the scrip value to account for on the transfer. This is why all_in_paise on a quote is the whole story: it is the net number that changes hands, with nothing bolted on after.

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How the units work

Three conventions hold on every endpoint: Worked examples are in the Money and price annexure.