TaxTMI 
TaxTMI 
Systems Alert for monitoring realisation of export proceeds in EDI under the BRC Module for ICES (introduced in year 2009) and the new RBI BRC Module introduced under DG (Systems) letter dated 28.8.2014.
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....28.8.2014. Attention of the Exporters, 'Custom House Agents and Trade is invited to Board's Circular ND. 5/2009-CUs, Instrugtion no. 609/119/ 2010-DBK dated 18.1.2011, Instruction NO. 609/35/2013-DBK dated 4.4.2013 and para 3 of instruction No. 603/01/2011-DBK dated 11.10.2013 which, amongst other aspects, direct the methodical, time bound and monitored feeding Of details of realization/ non-realization received from exporters/ their statutory auditors/ banks/RBI in the BRC Module of ICES implemented in year 2009 for achieving complete and effective implementation of the statutory requirement of recovery of drawback with interest with respect to all drawback EDI shipping bills export proceeds are not realized within statutory tim....
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....nitoring mechanism through XOS inasmuch as the shipment details of goods valued upto $ 25,000 are no longer reported through this statement. 4. In view of this change, particularly considering that under the statute, the drawback payment is ultimately linked to the realization of export proceeds, it has become necessary for the Department to put in place an in- house monitoring mechanism to ensure the realization of such proceeds for exports made under the Drawback Scheme. Extensive consultations were held with field formations and trade & industry in this regard, and subsequently, the matter was examined by the Board. For monitoring the realization of export proceeds for drawback purposes, the Board has decided that the exporters will s....
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....hom declaration has been filed containing details of the shipments which remain outstanding beyond the prescribed time limit, including the extended time, if any, allowed by AD/ RBI. Such a certificate can also be provided by a Chartered Accountant in his capacity as a statutory auditor of the 'exporter's account. A proforma for furnishing such negative statement is enclosed as Annexure. Further, the exporters also have the option of giving a BRC from the concerned authorized dealer(s). (d) Such certificates shall be furnished by the exporters on a 6 monthly basis before the 7th day of January and July in respect of exports which have become due for realization in the previous 6 months. For example, for the six-monthly period O....
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.... the S/Bs pertaining to the given period on screen and once the officer approves, all such shi pping bills shall be deleted from the pendency list. (iii) If the negative statement furnished by the exporter gives the list of S/Bs, for a particular six month period, for which foreign exchange has not been realized (and by implication foreign exchange has been realized for all other S/ Bs) then, the officer will choose option (3). This will allow the officer to enter the S/ Bs for which the BRCs are pending. Thereafter, an S/ Bs except such pending S/ Bs will be deleted from the list. (iv) The BRC entry module also enables the Department to remove the list of S/ Bs from the pendency list if drawback is recovered subsequently.....