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of <h1>Customs Department Introduces New Software for Monitoring Export Proceeds Under Drawback Scheme; Compliance from March 31, 2009.</h1> The Customs Department has issued a notice regarding the monitoring of export proceeds under the Drawback Scheme. Following RBI's exemption for exports under $25,000, many consignments are not monitored through the XOS system. To address this, a new BRC Software has been developed to track realization of export proceeds. Exporters must declare their Authorized Dealers and submit Bank Realization Certificates (BRCs) or negative statements semi-annually. The system will flag pending BRCs, and officers will take necessary actions. The software module will be operational from March 31, 2009, ensuring compliance with export realization requirements.
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