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Issue ID : 108769
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- 0 -

FIRC REGULARIZATION

Date 19 Jun 2015
Replies1 Answers
Views 3524 Views

We are dealing with exports of Sheet Metal Enclosures. Foreign customers will remittance the amount to our bank account against the invoices and banker will issue the FIRC for same.

Query:

  1. After getting the FIRC is it mandatory to regularize?
  1. If it is mandatory then what is threshold limit?

I would request you to suggest me in this regard.

Eeranna Halakatti

Banking - Finance
1 answers
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Replied on Jun 22, 2015
1.

you need to get the FIRC converted in BRC. Discuss the procedure with your Banker.

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