Monitoring of export proceeds through mandated BRCs and negative statements enables automated tracking and recovery of drawback payments. Exporters filing Shipping Bills under the Drawback Scheme must declare Authorized Dealers and submit Bank Realization Certificates or prescribed negative statements every six months; the ICES BRC software will generate due dates using the Let Export Order date, flag Shipping Bills without certificates, allow officer entry via three options to clear or retain S/Bs, and enable recovery entries when drawback is recovered. BRCs/negative statements for Drawback S/Bs with LEOs from 1.1.2004-31.12.2007 must be furnished within the four month period directed by the Board; the module is effective from 31 March 2009.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Monitoring of export proceeds through mandated BRCs and negative statements enables automated tracking and recovery of drawback payments.
Exporters filing Shipping Bills under the Drawback Scheme must declare Authorized Dealers and submit Bank Realization Certificates or prescribed negative statements every six months; the ICES BRC software will generate due dates using the Let Export Order date, flag Shipping Bills without certificates, allow officer entry via three options to clear or retain S/Bs, and enable recovery entries when drawback is recovered. BRCs/negative statements for Drawback S/Bs with LEOs from 1.1.2004-31.12.2007 must be furnished within the four month period directed by the Board; the module is effective from 31 March 2009.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
