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

AI Summary

Understanding Bank Realization Certificate: Key for Export Processes, FEMA Compliance, and Export Promotion Benefits. A user inquired about the meaning and importance of the Bank Realization Certificate (BRC) in the context of customs, EXIM, and SEZ. Two responses clarified that the BRC is a documentary proof that an exporter has received payment for exports according to FEMA provisions. It is essential for completing export processes and availing export promotion benefits. The Reserve Bank of India mandates the BRC as proof of foreign exchange receipt, and failure to obtain it within 180 days may result in penalties. The BRC can be downloaded from the Directorate General of Foreign Trade's website.