TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY
( PART-1 SECTION-1)
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE
DIRECTORATE GENERAL OF FOREIGN TRADE
UDYOG BHAWAN, NEW DELHI
PUBLIC NOTICE No. 02 (RE-2012) / 2009-14
DATED the 5th June, 2012
Sub:- Introduction of electronic Bank Realization Certificate (e-BRC) system.
1. In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2009-14, the Director General of Foreign Trade introduces an electronic procedure of filing of Bank Realization Certificate (BRC).
2. At present, for claiming benefits under various schemes of Foreign Trade Policy, exporters have to obtain Bank Realisation Certificate (BRC) from banks in the existing formats prescribed at Appendix 22A (physical exports) and 22B (deemed exports) of Handbook of Procedure -Vol.1(Appendices and Aayaat Niryaat Forms) and submit the same to the Directorate General of Foreign Trade (DGFT) manually. With the introduction of electronic BRC system, banks will issue and transmit BRC’s electronically to DGFT’s server replacing the manual mode of obtaining and submitting BRC. The revised process flow with technical guidelines are available on the DGFT’s website dgft.gov.in under the ‘e-BRC’ icon.
3. The existing system of physical BRC along with the new system of ‘e-BRC’ will however, run concurrently for a period of one month from the date of issue of this Public Notice for ensuring smooth transition. Thereafter, issuance and transmission of ‘e-BRC’ to DGFT in electronic form would be mandatory.
EFFECT OF PUBLIC NOTICE:
Submission of physical copy of BRC for claiming benefit of FTP will not be mandatory after one month from the date of issue of this Public Notice. The ‘e-BRC’ will reduce the transaction cost and time.
(Anup K. Pujari)
Director General of Foreign Trade
(Issued from F.No. 01/02/110/AM 12/EDI)