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GSTN signs MoU with DGFT for sharing of foreign exchange realisation data

Goods and Services Tax - GST - Dated:- 28-10-2016 - The Goods and Services Network(GSTN) has signed a Memorandum of Understanding (MoU) with Director General of Foreign Trade (DGFT) for sharing of foreign exchange realisation and Import Export code data, a move that is expected to strengthen processing of export transactions of taxpayers under GST, increase transparency and reduce human interface. The Memorandum of Understanding was signed by Shri Ajay K Bhalla, Director General of Foreign Trade .....

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orts on to the DGFT server under a secured protocol. So far 100 banks operating in India, including foreign banks and cooperative banks have uploaded more than 1.9 Crore e-BRCs on to the DGFT server. Sharing of data 1. eBRC data has proved to be a significant step in reducing the transaction cost of exporters. A Bank Realisation Certificate (BRC) is required for discharge of export obligation and claiming of incentives under Foreign Trade Policy. Its is also used by state government departments .....

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