BRC
This query is : Resolved
19 May 2011
We have imported and sold to SEZ. The sales has been made in INR.
For claiming Duty drawback we have to submit BRC. Bank officials say BRC can be issued only when remittance is received in FC.
what should i do?
For claiming Duty drawback we have to submit BRC. Bank officials say BRC can be issued only when remittance is received in FC.
what should i do?
19 May 2011
yes BRC is related to foreign exchange only, ask your SEZ to issue necessary certificates for compliance of your claim.
19 May 2011
what is the certificate name?
19 May 2011
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE
NOTIFICATION No. 42 (RE-2008)/2004-2009
New Delhi, Dated the 18th September, 2008
S.O (E) – In exercise of powers conferred by Section 5 of the Foreign Trade (Development and
Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade Policy, 2004-
2009 (as amended from time to time), the Central Government hereby makes the following
amendment in Foreign Trade Policy:
1. The 1st sub-paragraph of paragraph 4.3.1 stands amended as follows:-
“An exporter may apply for credit, at specified percentage of FOB value of exports, made in
freely convertible currency. In case of supply by a DTA Unit to a SEZ Unit /SEZ Developer /
Co-Developer, an exporter may apply for credit for exports made in freely convertible currency
or payment made from foreign currency account of SEZ Unit / SEZ Developer /Co-Developer.
In addition, the exporter shall also be entitled for DEPB benefit in case payment is made in
Indian Rupees by SEZ Developer / Co-Developer for supplies received w.e.f 10.2.2006.”
This issues in Public Interest.
Sd/-
(R.S. GUJRAL)
DIRECTOR GENERAL OF FOREIGN TRADE
AND EX-OFFICIO ADDITIONAL SECRETARY TO THE GOVT. OF INDIA
(Issued from File No. 01/94/180/SEZ-DEPB/AM09/PC 4)
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE
NOTIFICATION No. 42 (RE-2008)/2004-2009
New Delhi, Dated the 18th September, 2008
S.O (E) – In exercise of powers conferred by Section 5 of the Foreign Trade (Development and
Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade Policy, 2004-
2009 (as amended from time to time), the Central Government hereby makes the following
amendment in Foreign Trade Policy:
1. The 1st sub-paragraph of paragraph 4.3.1 stands amended as follows:-
“An exporter may apply for credit, at specified percentage of FOB value of exports, made in
freely convertible currency. In case of supply by a DTA Unit to a SEZ Unit /SEZ Developer /
Co-Developer, an exporter may apply for credit for exports made in freely convertible currency
or payment made from foreign currency account of SEZ Unit / SEZ Developer /Co-Developer.
In addition, the exporter shall also be entitled for DEPB benefit in case payment is made in
Indian Rupees by SEZ Developer / Co-Developer for supplies received w.e.f 10.2.2006.”
This issues in Public Interest.
Sd/-
(R.S. GUJRAL)
DIRECTOR GENERAL OF FOREIGN TRADE
AND EX-OFFICIO ADDITIONAL SECRETARY TO THE GOVT. OF INDIA
(Issued from File No. 01/94/180/SEZ-DEPB/AM09/PC 4)
19 May 2011
TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORINDARY
(PART I, SECTION 1)
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DIRECTORATE GENERAL OF FOREIGN TRADE
PUBLIC NOTICE NO. 71 (RE-2008) 2004-09
Dated 2nd September’ 2008
In exercise of power conferred under paragraph 2.4 of the Foreign Trade
Policy 2004-09, Director General of Foreign Trade hereby makes the following
amendments in the Handbook of Procedures (Vol. I):
The following shall be added at the end of Appendix 22 B:
“(***) Alternative Bank Certificate to be furnished by EOU, in case deemed export
benefits are claimed on disclaimer basis.
BANK’S CERTIFICATE
This is to certify that the amount mentioned in Col. 7 against invoice mentioned in
Col. 1 above/details mentioned in Col. 5 above (please strike out one of the
options), has been debited from the account of EOU, for supplier mentioned
above.
(Signature of the Bankers)
Full address of the Bankers
Branch and City
Official Stamp
*** This alternative Bank Certificate will need to be furnished alongwith domestic
supplier certificate, as above.”
This issues in Public interest.
(R.S. GUJRAL)
DIRECTOR GENERAL OF FOREIGN TRADE
EX-OFFICIO ADDITIONAL SECRETARY TO THE GOVT. OF INDIA
(PART I, SECTION 1)
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DIRECTORATE GENERAL OF FOREIGN TRADE
PUBLIC NOTICE NO. 71 (RE-2008) 2004-09
Dated 2nd September’ 2008
In exercise of power conferred under paragraph 2.4 of the Foreign Trade
Policy 2004-09, Director General of Foreign Trade hereby makes the following
amendments in the Handbook of Procedures (Vol. I):
The following shall be added at the end of Appendix 22 B:
“(***) Alternative Bank Certificate to be furnished by EOU, in case deemed export
benefits are claimed on disclaimer basis.
BANK’S CERTIFICATE
This is to certify that the amount mentioned in Col. 7 against invoice mentioned in
Col. 1 above/details mentioned in Col. 5 above (please strike out one of the
options), has been debited from the account of EOU, for supplier mentioned
above.
(Signature of the Bankers)
Full address of the Bankers
Branch and City
Official Stamp
*** This alternative Bank Certificate will need to be furnished alongwith domestic
supplier certificate, as above.”
This issues in Public interest.
(R.S. GUJRAL)
DIRECTOR GENERAL OF FOREIGN TRADE
EX-OFFICIO ADDITIONAL SECRETARY TO THE GOVT. OF INDIA
19 May 2011
Dear Sharma,
Thanks for your reply.
But in the second notification, it is mentioned "alternative bank certificate to be furnished by EOU". will it cover SEZ too?
Thanks for your reply.
But in the second notification, it is mentioned "alternative bank certificate to be furnished by EOU". will it cover SEZ too?
19 May 2011
EOU and SEZ is same thing
19 May 2011
agree with sharma ji...
ANOTHER LINK FOR INFORMATION IS :-
https://www.caclubindia.com/forum/bank-realisation-certificate-brc--13405.asp
ANOTHER LINK FOR INFORMATION IS :-
https://www.caclubindia.com/forum/bank-realisation-certificate-brc--13405.asp
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