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Bank Realisation Certificate (Custom)

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This query is : Resolved


( Author )
24 October 2008

I have been doing Exports from India for the past two years.

All of my shipments are on NON DRAWBACK that mean a Free Shipping Bill.

When I send a shipment I sent a set of following documents -:

SLA Shipper Letter of Instruction
SDF Shippers Declration Form.
Invoice
Packing List.

Now the payments which I receive is in my Indian Bank account is USD converted to Indian Rupee.

Bank issues an FIRC for the same.

Now I have a SALES TAX matter where I have to get money refunded on the EXPORT done outside India.

The sales tax dept requires BRC (Bank Realisation Certificate)

When I approach the bank, they ask me for the following -:

Invoice
Request Letter
Shipping Bill copy
SDF Form.

When I re-checked the files many I have all the EXPORT DOCUMENTS like Shipping Bill, Exchange Control Copy, Invoice, HAWAB and the AWB

But many doenst have the attested copy of SDF's ?

What do I do now to have many BRC ???

Please advice it would be of great help.


Tajoddin

( Expert )
24 October 2008

BRC mean Bank Realization Certificate, that format is Appendix 22 A, that you have fill and apply to which bank funds realised, after they issued the certificate.


Sudhanshu Bhasin

( Author )
24 October 2008

Exactly.

I filled this form today and submited to my bank.

My bank receives the Foreign Remittance as an advance payment.

And now they also want SDF form.

Can you please suggest what to do ?


Harish Aggarwal

( Expert )
25 October 2008

Dear Mr. Sudhanshu

1. Kindly clarify that at the time of FIRC issued by Bank which documents you submitted in bank to request for FIRC

2. Whehther you sent set of documents through your Bank, which contains SDF ?


Sudhanshu Bhasin

( Author )
28 October 2008

The banks just call me at the time of remittance.

We book a spot rate from the treasury.

They also are careless to issue proper FIRC.

Now I just got a call from the bank that I should arrange "my own Certificate" and get it stamped from them.

They say they have approval for this.

They will just sign the document which I need to buy from the open marketFORMS.

Is this true ????


Harish Aggarwal

( Expert )
30 October 2008

Regarding BRC (Bank Realisation Certificate) sometimes bank may ask you to buy a format & fill it, after that bank will only stamp on it.

but in case of FIRC bank will not ask you to get a open market form

In our case we are also providing a pre-filled format to Bank for stamping only


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