Birc

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

28 November 2011 What is BIRC?
Why do we need to obtain BIRC?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

28 November 2011 BRC refer to bank certificate of export and realisation (appendix-22a)

Bank Certificate of Export & Realisation is most often sought by companies who have exported their goods under DEPB Scheme (Duty Entitlement Pass Book Scheme). By this policy , as a process of boost foreign currency & exports in country, Government provides you DEPB licence of value (approx 7-10% depending on the commodity you have exported and the rate fixed by Govt. on the same) , the license can be used against your import duties or the best can be transferred to someone else in market and thus making a gain. Now, coming on your main point , Government provides certificate only when the export proceeds are realised and Bank Certify the same that the foreing currency were been received , realisation rate is the rate at which currency were converted into INR.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

28 November 2011 for taking incentive as a exporter it submit in DGFT & custom too

Querist : Anonymous

Querist : Anonymous (Querist)

30 November 2011 Thanx Mr. Ramesh Kumar Verma.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

30 November 2011 IF YOU FOUND ANY QUERY REGARDING EXPORT IMPORT TELL

THANKYOU,

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now