Firc

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Querist : Anonymous (Querist)

06 July 2012 What is FIRC (Foreign Inward Remittance Certificate)? and what is the procedute to get it?

CA BHARATH KUMAR

CA BHARATH KUMAR (Expert)
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06 July 2012 go through following its allready replied by experts.

https://www.caclubindia.com/forum/firc-foreign-inward-remittance-certificate--13406.asp

Thanks,

Querist : Anonymous

Querist : Anonymous (Querist)

06 July 2012 Ya.. But it is Not clear to me..

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CA BHARATH KUMAR

CA BHARATH KUMAR (Expert)
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06 July 2012 when Foreign Currency inwards(payments ) comes to your bank account . that time Bank shall issued a Statutory Letter (Authorised by RBI)thats called FIRC .FIRC acts as an important proof of export of services and remittances which are received in lieu of them. There are various details which are included in FIRC. FIRC carries the beneficiary’s name, mode of payment

For example : a company exported thier services to Forien country(US). they will give payment for us right . its comes via doller to our bank account(company). that bank bank issues proof of payment recieved from US (authorised by RBI)thats called FIRC

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Querist : Anonymous

Querist : Anonymous (Querist)

06 July 2012 OK.. But What is the procedure to get it???