TaxTMI 
TaxTMI 
Introduction of electronic Bank Realization Certificate (e-BRC) system.
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....icate (e-BRC) system. Attention is invited to Public Notice No. 08 dated 6.7.2012 that dispensed with the Issuance of physical copy of BRCs by banks for the purpose of DGFT use and made e-BRC mandatory w.e.f. 17.8.2012. 2. Following guidelines are issued for uniformity in approach and guidance of stakeholders: A. Guidelines for Banks: A1. Issuance of physical copy of BRCs by banks has been dis....
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....ed foreign exchange value. This conversion should be carried out based on rates notified by RBI. In case exchange rate is not available from RBI, bank may carry out currency conversion as per its standard practice. A4. BRCs transmitted by bank should reflect total value of foreign exchange realised. Banks should not deduct any amount from this value under any head (Commission, Insurance and Frei....
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.... value reported by bank reflects full value and get it corrected from the banks in case of any discrepancy. B5. Exporter will enter values of Commission, Insurance and Freight against each BRC. Without this entry net FOB Value displayed will be indicated as zero. B6. Exporter will have to furnish a declaration of correctness of the data and also furnish relevant documents, if called for. B7. In....
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....ionately distributed and multiplication factor applied on it.For example, If a Shipping Bill contains 3 export items A,B and C with FOBs US $40, US $60 and US $80 respectively (total FOB US $180/-). If the total NFE realised as per e-BRC is US$90/-, then by pro-rata calculation the benefits on 3 items i.e. A, B and C will be calculated on 20 US$, 30 US$ and 40 US$ respectively.(Multiples) B8. Cal....