Electronic Bank Realization Certificate(e-BRC)

#knowledgeupdate

“e-BRC” Stands for “Electronic Bank Realization Certificate” serves as proof of realization against export done issued on DGFT platform by concerned banks at the request of Exporter.

Uses of e-BRC

1.????? To avail incentives under Foreign Trade Policy of DGFT:

? Advance Authorization scheme

? Export Promotion Capital Goods Scheme (EPCG)

? MEIS / SEIS / TMA (legacy schemes)

2.????? GST compliances (Rule 89(2) of the CGST Rules):

? Refund of unutilized input tax credit (ITC) on account of exports without payment of tax.

? Refund of tax paid on export of services with payment of tax

? Refund of unutilized ITC on account of supplies made to SEZ Unit/SEZ Developer without

?? Payment of Tax

? Refund of tax paid on supplies made to SEZ Unit/SEZ Developer with payment of tax

? Refund to supplier of tax paid on deemed export supplies

? Refund to recipient of tax paid on deemed export supplies

Revamped process flow for e-BRC generation:

? DGFT already captures Exporter’s Bank account details and PAN under IEC issued.

? All Inward Remittance Message (IRM) mapped with PAN to be pushed by the banks to DGFT using a ????API integration.

? The given inward remittance details shall automatically appear in account of respective IEC holder.

? Exporter may tag the inward remittance with the shipping bill/invoice to generate e-BRCs directly.

? e-BRCs so generated will flow to banks for post audit risk management as per banks’ own process.

? e-BRC also planned to be digitally shared with other agencies in future.

Process Steps:

1.????? Buyer remits exports proceeds to exporter.

2.????? IRM received by bank

3.????? PAN Seeds IRM pushed by bank to DGFT via API

4.????? IRM auto mapped to IEC and shown in exporter’s DGFT account

5.????? Exporter logs in to DGFT and Tags IRM with Shipping bill/invoice

6.????? System checks for compliance with rules before final submission

7.????? Self-Certified e-BRC generated

8.????? Flow to banks for RMS.??