Export proceeds monitoring now mandatory under RBI-BRC module; manual BRC submissions discontinued for post module LEO shipping bills. The new RBI-BRC Module mandates electronic monitoring of realisation of export proceeds for applicable EDI shipping bills; exporters must ensure BRC integration via ICF.GATE or through authorised dealers and stop submitting manual six monthly negative statements or dealer/chartered accountant certificates for shipping bills within the module's scope. The BRC Monitoring Cell, Chennai IV, will enforce the online reporting requirement, while pre module LEO shipping bills remain subject to prior circulars and public notices.
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Provisions expressly mentioned in the judgment/order text.
Export proceeds monitoring now mandatory under RBI-BRC module; manual BRC submissions discontinued for post module LEO shipping bills.
The new RBI-BRC Module mandates electronic monitoring of realisation of export proceeds for applicable EDI shipping bills; exporters must ensure BRC integration via ICF.GATE or through authorised dealers and stop submitting manual six monthly negative statements or dealer/chartered accountant certificates for shipping bills within the module's scope. The BRC Monitoring Cell, Chennai IV, will enforce the online reporting requirement, while pre module LEO shipping bills remain subject to prior circulars and public notices.
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