BRC for Export Document in INR

This query is : Resolved

Jaffar (Querist)
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04 November 2010 We made export document in INR but realize the same in USD

Example Invoice value is 100000 INR
Party transfered 2193 USD @ 45.6 = 100000 INR
We got in our Account USD 2168 (as 2193 - 25 bank charges)

But while transfering it from EEFC Account we got
USD 2168 @ 45.1 Due to Rate fluctuation
i.e 97777 (Loss of 100000 - 97777 = 2223)

My Query is
1 how can we show loss of 2223 INR in BRC
2 we have exported under DEPB shipping Bill, what to be done in that case

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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04 November 2010 mr.jaffar,
Invoicing in Indian rupee is permitted. If payment is finally received in foreign exchange, then you will get full exports benefit.

in column no. 9 , (fob /cif/ bil value) , in column no. 10 is for freight amount , column no. 11 is for insurance , column no. 12 is for commission / discount/paid (payble)

AND IN COLUMN NO. 14 IS FOR FOB VALUE.

i wanted to inform you that exchange rate will apply on the date of late export. which is mentioned on shipping bill.

assume on the date of leo date if is exchane rate is rs. 45.00 (2168*45= rs. 97560 , if depb benefit is 5% (duty credit will be=4878 and if we calculate from usd 2193 , your duty credit will be reduce from 56 rs.

any query , if you have not satisfy, tell me , i remain you.

regards

Jaffar

Jaffar (Querist)
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04 November 2010 Actually my Query is as per my Inv. value of Rs 100000, I just realized Rs 97777 with a loss of Rs 2223

So the question is
1) How to show these loss in BRC, as our bank is saying we should show what we actually realize not the Inv. value in BRC.

Note:- above data is just for example, but what we really faced with the problem is

We had Inv. of value Rs 8613097.11 and actualy realized less amount from EEFC as 8366649.37 (due to rate fluctuation)

i.e. 8613097.11-8366649.37= 246447.74 loss, how to show these loss in BRC

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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04 November 2010 mr. jaffar,

what is the exchange rate at the time of LEO dATE .

Jaffar

Jaffar (Querist)
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08 November 2010 But Shipping Bill of INR documents do not show USD rate of LEO date

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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08 November 2010 IN SHIPPING BILL , WHAT IS FOB VALUE IN SHIPPING BILL.

YOU COULD NOT PROVIDE ME THE EXCHANGE RATE , ASSUME IF THE EXCHANGE RATE OF THIS SHIPMENT IS RS. 45 .00

FOB VALUE /EXCHANGE RATE.

8613097.11 / 45.00=191402.158 USD

NOW YOU CAN GAIN THE VALUE IN USD .191402.58

AND IF YOU RECEIVED THROUGH BANKING CHANNEL IN RS. 8366649.37

YOUR FC IS 185925.54 (IF EXCHANGE RATE IS RS. 45 ON LEO DATE)

in column no. 9 , (fob /cif/ bil value) , in column no. 10 is for freight amount , column no. 11 is for insurance , column no. 12 is for commission / discount/paid (payble)

AND IN COLUMN NO. 14 IS FOR FOB VALUE.

REGARDS

Jaffar

Jaffar (Querist)
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08 November 2010 Ok
In that way if we see

We must have received USD 191402.58 but received 185925.54 i.e. less of 5476.62

191402.58-185925.54= less 5476.62

No how to show these less received amount in BRC

As our bank says u should show these loss of Usd 5476.62 (INR 246448) in BRC.

I want to know how to show these detail in BRC

Pls help me in these matter, as my few BRC's are struck due to these issue

Thanks & Regards

Jaffar

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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08 November 2010 MR JAFFAR,

PERHAPS THIS SHIPMENT IS IN FOB.

I ALREADY TELL YOU THAT IN COLUMN NO. 9, MENTIONED

191402.58, USD (either in Rs.)

IN COLUMN NO. 10, IS FOR FREIGHT AMOUNT, (IF MENTIONED)
(Either in Rs.Or in Usd)

COLUMN NO. 11, IS FOR INSURANCE, (IF MENTIONED)

IF COLUMN NO. 10, 11 & 12 AMOUNT IS NOT MENTIONED
(Either in Rs.Or in Usd)

HENCE, YOU MUST MENTION IN COLUMN NO. 14, FOB VALUE = 185925.54 IN USD (Either In Rs.Or in Usd)

Jaffar

Jaffar (Querist)
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08 November 2010 OK is got ur point

But still to clear a little

We had this shipment in C&F

Inv Value is 191402.58 USD(8613097.11 Rs.)Frieght is 50949 INR
and
FOB is (8613097.11-50949 = 8562148.11) as per shipping bill

if we make BRC and show
Col 9 8613097.11 INR
Col 10 50949 INR &
Col 14 8366649.3

how the Col 14 will match with Shipping bill FOB value

and if possible pls refer me to any Circular or Notification for Govt. body which explains how to make BRC

Thanks & Regards

Jaffar

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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10 January 2012 is this query still pending?????

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