Extensive consultations were held in this regard with field formations and the trade bodies, viz. Federation of Indian Export Organisations (FIEO), Apparel Export Promotion Council (AEPC), Council for Leather Exports (CLE), Engineering Export Promotion Council (EEPC), Export Promotion Council for Handicrafts (EPCH), Delhi Exporters Association and others.
Taking note of suggestions received from the trade and after examination of the issue, a software “BRC (Bank Realisation Certificate) module” has been developed for monitoring realization of export proceeds in respect of Drawback Shipping bills.
Under this module, the exporters will submit a certificate from the authorized dealer (s) providing details of shipment which remain outstanding beyond the prescribed time limit including the extended time, if any, allowed by the authorized dealer/RBI on quarterly basis.
The status holders and other exporters who are permitted to realize export proceeds within a period of 12 months or more may submit these certificates once in six months. The certificates have to be furnished port-wise.
The software shall issue alerts against the shipping bills where the BRC/negative statement has not been furnished by the exporter within the prescribed date.
Notices will be issued by the Customs to recover drawback paid on export consignments in respect of which export proceeds have not been realized.
It has been decided to operationalise the above mentioned BRC module with effect from 1.4.08. A draft Circular, outlining the basic features of the module, has been placed on the CBEC website.
It is requested that suggestions, if any, on the proposed module may please be sent to Joint Secretary (Drawback), 4th Floor, Jeevan Deep Building, Parliament Street, New Delhi so as to reach him by 26.3.08 so that the same can be considered before operationalization of the module.
Press Information Bureau Government of India
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