Bank realization certificate
This query is : Open
ROHIT YADAV
(Querist)
23 May 2017
what is BRC?? Importance of BRC. How to obtain BRC from Bank??
Dr.RAMAKRISHNA. C
(Expert)
09 June 2017
BRC means Bank Realisation Certificate of Foreign Exchange proceeds on sale / export of goods. If there is no BRC means it is Non- Realisation of export proceeds. Action will be taken against the exporter under paragraph 2.54 of Foreign Trade Policy 2015-20, Foreign Trade ( D&R) Act 1992, Rules and orders framed there under and Foreign Exchange Management Act (FEMA) 1999 and the Rules made there under. In order to obtain BRC please present to the Authorised Dealer (Bank) commercial invoice , packing list form-SDF/GR and Foreign Exchange Inward Remittance Certificate (FIRC) or evidence that the importer has remitted the sale proceeds against the relative shipment.
ROHIT YADAV
(Querist)
09 June 2017
Thanks, Need little bit more explanation.
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