what is brc

[raj nadh]

What is meaning and importance of BRC (Bank realisation Certificate)? Is it necessary to take BRC for each export invoice raised

Anand

[YAGAY andSUN]

Dear Anand,

BRC means, Bank Realization Certificate.  It is an documentary evidence that against a particular export out of India, the exporter has received the payment according to the provisions of FEMA.

On the basis is BRC, any export is deemed to be completed and you may also avail the benefits of export promotion schemes and submit the proof of export in Central Excise Department and in VAT/CST Department.

You can now download BRC from the DGFT's website and keep the copy of the same for your future use.

Regards

Team YAGAY & SUN

(Management & Indirect Tax Consultants)

 

[Ramesh Kothari]

Its mandatory by the RBI its token of receipts of the foreign exchange for the supply of goods from the Indian territory under foreign exchange regulation act. If u not brought  it with in 180 days there may be panel action. Further it will facilitate to get the export benefit if any. 

Ramesh Kothari 

AI Summary

Bank Realization Certificate confirms foreign exchange receipt for exports and enables completion status and export incentive claims. Bank Realization Certificate (BRC) is documentary proof that an exporter has received foreign exchange for a particular export under FEMA; it deems the export complete for regulatory purposes, enables claiming export promotion benefits and submission to indirect tax and sales tax authorities, is available from the designated portal, and must be retained as part of export records.