Exports through New Mangalore Port: ensure AD Banks upload BRCs to RBI EDPMS to reconcile drawback claims and avoid recovery action. Exporters must ensure AD Banks upload Bank Realisation Certificate data in RBI's EDPMS so e BRCs transmit to ICES for reconciliation under the Drawback scheme; failure to upload or submit e BRCs within one month will prompt demand and recovery of drawback with interest under the Customs Act, 1962. The notice cites 22,539 shipping bills with pending realisation and reminds that FEMA requires foreign exchange realisation within nine months unless RBI extends the period.
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Provisions expressly mentioned in the judgment/order text.
Exports through New Mangalore Port: ensure AD Banks upload BRCs to RBI EDPMS to reconcile drawback claims and avoid recovery action.
Exporters must ensure AD Banks upload Bank Realisation Certificate data in RBI's EDPMS so e BRCs transmit to ICES for reconciliation under the Drawback scheme; failure to upload or submit e BRCs within one month will prompt demand and recovery of drawback with interest under the Customs Act, 1962. The notice cites 22,539 shipping bills with pending realisation and reminds that FEMA requires foreign exchange realisation within nine months unless RBI extends the period.
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