Time limit for obtaining bank realisation certificate

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2012 Can anyone tell me what is the time limit for obtaining/submitting a BRC in case of export proceeds.
Which notification/circular of RBI or customs can i refer...

CA Sripal Jain

CA Sripal Jain (Expert)
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13 August 2012 RBI/2011-12/10
Master Circular No.10/2011-12
(Updated as on February 9, 2012)

http://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=6502
please go through this circular, i think its 12 months
regards
sripal jain

Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2012 Thanks Sir for replying but i cannot find any time about BRC in this circular

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RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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13 August 2012 agreed with expert and dear anonymous

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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13 August 2012 agreed with expert and dear anonymous if you apply the chapter-3,4,5 prescribed by incentive for DGFT late cut will be applicable .

must read:

https://www.caclubindia.com/forum/bank-realisation-certificate-177775.asp#.UCiZY6A-1tg

https://www.caclubindia.com/experts/implication-of-non-submission-of-brc-ag-legal-undertaking-973050.asp#.UCiZM6A-1tg

Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2012 thanks sir but i am very confused between time limit for realization of export proceeds and time limit for obtaining BRC....In case of Drawback what is the time limit of submitting BRC to DGFT after export proceeds have been realised...

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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13 August 2012 Noted that:

If you are claiming duty drawback then you need to submit Bank Realisation certificate(BRC) on half yearly. after shipment submit the GR form in custom and BRC within 12 month i.e. After Leo date.

This needs to be submiited to Customs officer (drawback) from where you did the export.

For getting the BRC you need to approach to the bank where you got your foreign amount remittance.

I hope this will answer your question.

Regards