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Firc
Can someone please explain me what is FIRC and how it works ?
Replies (1)
It is an abbrevation for foreign inward remittence certificate. Firc needs to be issued by the bank with reference of invoice whenever there is an inward remittence in foreign currency. It is a basic document or proof of foreign currency realisation which has to be maintained to prove the export of goods or services are realised within the stipulated time period as per FEMA regulations.
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