Non receipt of BRC

[Rajesh Kumar]

Sir/ Madam,

Please inform what are the adverse effect if Bank Realisation Certificate of some export consignments are not received after lapse of more than one year/ two years. Party has taken Refund against these exports. Now department has raised objection to produce previous BRC.

Can they stop refund and ask BRC ?
Is BRC is mandatory in case of exports ?

Can department ask for the GST on that Export consignment of which BRC not received?

What are exact provisions in GST in this regard ?

Thanks

AI Summary

Implications of Missing Bank Realization Certificate for Export Refunds: Understanding GST and FEMA Guidelines A discussion on a forum addresses the implications of not receiving a Bank Realization Certificate (BRC) for export consignments, particularly when a refund has been claimed. Participants clarify that while BRC is not mandatory for GST refunds on exports, the realization of export proceeds is crucial under FEMA guidelines. Failure to receive export proceeds within the prescribed time requires repayment of the refund with interest. The forum highlights that the e-BRC system allows verification of export proceeds, reducing the necessity for physical BRCs. The conversation also references relevant legal provisions and case law, enhancing understanding of the issue.