Introduction of Electronic Bank Realization Certificate (e-BRC) system - DGFT Guidelines
ISSUANCE of physical copy of BRCs by banks for the purpose of DGFT was dispensed with and e-BRC was made mandatory with effect from 17-8-2012. DGFT has issued Guidelines for Banks, Exporters and RAs.
Banks:
1. Issuance of physical copy of BRCs by banks has been dispensed with for the purpose of DGFT use. Banks will, now, transmit BRC data electronically to DGFT server.
2. Banks will convert BRC issued manually during 01.04.2012 and 16.08.2012 in the digital (XML) format and upload these onto the DGFT server. This will ensure availability of complete BRC data in electronic form for the entire financial year.
3. BRCs transmitted by bank should reflect total value of foreign exchange realised. Banks should not deduct any amount from this value under any head (Commission, Insurance and Freight).
Exporters:
1. Exporters should verify the Shipping Bill Number, Date and Port Code in case of ‘e-BRC' as reported by banks. In case of discrepancy, exporters need to approach bank to get such ‘e-BRC' details corrected first and then link the same with Shipping Bills.
2. In case the need for modification is felt, exporters have the option to delete Shipping Bills and/or ‘e-BRC' data from the Application and/or Repository. However, once the Shipping Bill/ BRC is utilized in any of the schemes, no modifications are permitted.
3. ‘e-BRC' details available in the DGFT server do not contain values of Commission, Insurance and Freight. These are to be entered by the exporters while making applications under various DGFT schemes. Exporters must ensure that the ‘e-BRC' value reported by bank reflects full value and get it corrected from the banks in case of any discrepancy.
4. Exporter will enter values of Commission, Insurance and Freight against each BRC. Without this entry, net FOB Value displayed will be indicated as zero.
5. Exporter will have to furnish a declaration of correctness of the data and also furnish relevant documents, if called for.
6. In case of shortfall in foreign exchange realization with respect to the shipping bill FOB value, pro rata distribution of realized foreign exchange against each export item will be made by the system itself.
7. DGFT will maintain a Repository of Shipping Bills, which would be available for on-line linkage with any application, for example, DEPB, Chapter 3 Incentive Schemes and EODC. When requested by exporters, ‘e-Shipping Bill' and ‘e-BRC' data will be captured and linked automatically.
RAs:
RAs will not ask for physical copies of BRCs for BRCs issued with effect from 17.08.2012.
DGFT Policy Circular No. 06/(RE- 2012) /2009-14, Dated: October 10, 2012