Implication of non submission of brc ag legal undertaking

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Davindar Singh (Querist)
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14 May 2012 Dear Sir,

Kindly clarify about the implication of non submission of BRC withn 12 months (from the date of scrip) against legal undertaking (LUT)given to DGFT for DEPB.

Further, whether does it make any difference that foreign currency has been realized / received against export but company did not submit BRC to DGFT against it.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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15 May 2012 in the said case exporter will submit the bond in concerned DGFT office ...and concerned regional licensing authority will issue the licence as Non transeferable .

whenever you submit BRC in dgft office they will cancelled and transferable the licence as per provision and condition will be applicable time to time by DGFT.

Regards,

Davindar Singh

Davindar Singh (Querist)
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15 May 2012 Dear Sir,

Thank you very much.

Kindly tell about its reference in FTP Hand book of Procedure.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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15 May 2012 IT IS CLEAR MENTIONED in appendix-25D appendices

link:

http://www.eximkey.com/contents/showpage1.asp?pageid=25960

regards,

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