Export proceeds monitoring may trigger recovery of drawback with interest if exporters' bank records are not updated. Monitoring of export proceeds must be performed via the RBI-BRC module and exporters must ensure foreign exchange realisation is recorded within nine months of export unless extended by the Reserve Bank; otherwise the drawback disbursed becomes recoverable with interest. A list of shipping bills with pending realisation will be published, and exporters should instruct authorised dealer banks to update EDPMS records so customs can reconcile data. Customs will place alerts and issue show cause notices for recovery where updates are not made, and exporters may contact the Export Proceeds Realisation Monitoring Cell for assistance.
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.
Export proceeds monitoring may trigger recovery of drawback with interest if exporters' bank records are not updated.
Monitoring of export proceeds must be performed via the RBI-BRC module and exporters must ensure foreign exchange realisation is recorded within nine months of export unless extended by the Reserve Bank; otherwise the drawback disbursed becomes recoverable with interest. A list of shipping bills with pending realisation will be published, and exporters should instruct authorised dealer banks to update EDPMS records so customs can reconcile data. Customs will place alerts and issue show cause notices for recovery where updates are not made, and exporters may contact the Export Proceeds Realisation Monitoring Cell for assistance.
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