TaxTMI 
TaxTMI 
REBATE AND BRC.
31 Jan 2015 
4 Replies 
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Rebate of service tax requires export proceeds realization or BRC before a rebate claim can be sustained.
Rebate of service tax under Notification No.41/2012-ST is conditioned on realization of export proceeds within the period permitted under the foreign exchange regime; absence of such realization renders the rebate deemed never allowed and subject to recovery. Bank Realisation Certificate or equivalent evidence of realization serves as the operative proof that proceeds have been received within the prescribed period, and failure to establish realization exposes the rebate to recovery under foreign exchange recovery provisions. (AI Summary)
Rebate of service tax under Notification No.41/2012-ST is conditioned on realization of export proceeds within the period permitted under the foreign exchange regime; absence of such realization renders the rebate deemed never allowed and subject to recovery. Bank Realisation Certificate or equivalent evidence of realization serves as the operative proof that proceeds have been received within the prescribed period, and failure to establish realization exposes the rebate to recovery under foreign exchange recovery provisions. (AI Summary)
DEAR EXPERTS, GOOD MORNING. Sir, whether BRC or realisation of export proceeds is mandatory before sanction of rebate claim. If so, please provide relevant circular/notification no. Thanks and regards sir.