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of <h1>Customs House Chennai Updates BRC Verification for EDI Exports; Immediate Duty Drawback, Recovery if Proceeds Unmet in 6 Months.</h1> The circular from the Customs House in Chennai outlines modifications to the Bank Realisation Certificate (BRC) verification module for the EDI System-Exports. It references amendments to the Foreign Exchange Management Regulations, which exempt exports below US$ 25,000 from filing certain forms. The circular emphasizes that duty drawback will be sanctioned immediately after export without requiring a BRC but mandates recovery if export proceeds are not realized within six months. Exporters must submit BRC details for drawback shipping bills filed after April 1, 2004, by June 30, 2005. The Customs department will monitor export realizations and take action if BRCs are not submitted timely.
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