eBRC: Important Documents to claim Export Incentives
An eBRC (Electronic Bank Realisation Certificate) is an extremely important digital certificate for those involved in the export business. It is issued by a bank as confirmation that the exporter has acquired payment from the buyer against the export of products or services. This post-shipment Export Document is one of the important documents.
In simple terms, an eBRC is proof of export. An exporter needs an eBRC in order to take advantage of the various export incentives provided by the government. The DGFT additionally implements the eBRC platform, which lets in banks to electronically add to the DGFT server all overseas exchange realisation-associated statistics associated with exports. This information is transmitted via a digital certificate i.e eBRC. Banks issue/upload the Bank Realisation Certificate (BRC) based on the completion of the payment.
Any organization claiming Export incentives under Foreign Trade Policy is needed to connect legitimate e-BRC as evidence of the realisation of payment towards exports made. All banks are uploading e-BRC immediately upon the amount is realized. An exporter can take the print out of the same from DGFT website.
Before DGFT launched the eBRC platform in 2012, the process was entirely manual. The exporter had to go to his bank and ask for a Bank Realisation Certificate (BRC), which the bank presented in physical form. The exporter then sent the BRC to the regional authority DGFT. The BRC details were entered manually into a DGFT application. This made the process of applying for export incentives prolonged and inconvenient. The eBRC did away with the want for a physical BRC in addition to for the exporter to go to the bank or DGFT authority. In addition to helping exporters obtain export incentives under foreign trade policies and apply for GST refunds, eBRC is an important source of financial information and also serves as an economic indicator.
Sky ERP Export plus is the Export Documentation software used to create E-BRC(Bank realisation certificate) and other Export Documents. By using this software users can create and maintain reports, registers and returns for e.g, Export Register, Consignee wise Exports, Country wise Exports, Outstanding payment report, Order/Invoice pending status, Council reports, etc.
To know more about SKY ERP EXPORT PLUS and book a free Demo please get in touch at [email protected] or call +91 81 0434 5257 Visit us at https://everexinfotech.com
