TaxTMI 
TaxTMI 
Introduction of electronic Bank Realization Certificate (e-BRC) system.
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....ct: Introduction of electronic Bank Realization Certificate (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: ....
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.... Banks shall, in addition to foreign exchange realised value, also upload the INR of the realised 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....
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....ntered by the exporters while making applications under various DGFT schemes. Exporters must ensure that the 'e-BRC' 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 w....
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....$ 100/-. -Illustration 3 (Multiple Export Items On Single Shipping Bill) -In case of multiple items on a shipping bill, the FOB value will be proportionately 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/-....