06 July 2022
We are a SaaS company and we provide software services to countries around the world. We don't export any physical goods. We only export wire-transferred software which doesn't move physically.
So do we need to go through the process outlined below for every remittance we receive from our customers:
07 July 2022
Bank Realisation Certificate (BRC) is issued by Banks based on realisation of payment against export by an Exporter. Any firm applying for benefits under Foreign Trade Policy is required to furnish valid BRC as a proof of realisation of payment against exports made. In the case of export of services, BRC would be required before sanction of the refund of GST paid on inputs (input services) / rebate of GST paid on exported services. ii) It is further noted that the invoice and BRC are the crucial documents for filing of the refund application.
CAclubindia
