Systems Alert for Monitoring Realization of Export Proceeds in EDI

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....ism through XOS (Export Outstanding Statement), which is a consolidated half-yearly Statement of all export Bills outstanding beyond the period prescribed for realization within 15 days from the close of the half year i.e June / December. Accordingly, taking into account of the fact that drawback payment is ultimately linked to the realization of export proceeds, the Central Board of Excise and Customs (Board) after extensive consultations with field formations, trade and industry, has put in place an in-house mechanism to monitor the realization of such proceeds for exports made under the Drawback Scheme. 2. Directorate General of Systems and Data Management have developed a BRC (Bank Realization Certificate) Software for ICES, the salien....

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....ich have become due for realization in the previous 6 months. For example, for the six-monthly period of January- June 2008 (during which exports were effected), the statement/BRC needs to be submitted by 7th July, 2009. (e) Such certificates shall be filed by the Exporter, Authorized Dealer wise at each port. The relevant date for filing certificates shall be the date of let export order (LEO), which is the date when the export goods are in effect permitted to be exported. (f) The software shall indicate list of the shipping bills under drawback where the BRC/negative statement has not been furnished by the Exporter within the prescribed date. The Assistant Commissioner/ Deputy Commissioner (Export) may peruse such lists either for t....