9911796707
TMI BlogSystems Alert for Monitoring Realization of Export Proceeds in EDIX X X X Extracts X X X X X X X X Extracts X X X X ..... 5 (1) of the Customs Act, 1962 read with sub-rule 16A (1) of the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995, where an amount of drawback has been paid to an exporter but the sale proceeds in respect of such export goods have not been realized within the time allowed under the Foreign Exchange Management Act (FEMA), 1999, such drawback amount is to be recovered. Sub-rule 16A (2) stipulates that if the exporter fails to produce evidence in respect of realization of export proceeds within the period allowed under the FEMA, 1999 or as extended by the Reserve Bank of India (RBI), the Assistant/Deputy Commissioner of Customs shall issue a notice to the exporter for production of evidence of realization of export proceeds, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er (s) or chartered accountant 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 a 6 monthly basis. Such certificate shall be furnished by the exporter, authorised dealer wise for each port. In order to put the exporters on notice at the time of export itself, an endorsement on the exporter's copy of shipping bill would be made specifying the due date for realization of export proceeds. 5. In the light of decisions taken by the Board, the Directorate General of Systems has developed a BRC ( Bank Realization Certificate) Software for ICES, the salient features of which are the following:- (a) The exporters filing Shipping ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted by the 7th July, 2009. (e) Such certificates shall be filed by the exporter AD wise at each port. The relevant date for filing certificates shall be the date of let export order (LEO) which is the date when the export goods are in effect permitted to be exported. (f) The software shall indicate list of the shipping bills under drawback where the BRC/negative statement has not been furnished by the exporter within the prescribed date. The Assistant Commissioner / Deputy Commissioner (Export) may peruse such lists either for the entire Customs port or for an individual exporter by entering the IE code of the exporter and accordingly initiate action to recover drawback. (g) The BRC entry module gives three options for entering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ipping Bills for which the drawback has been realized. Thereafter, all such S/Bs will be deleted from the pendency list. 6. The Custom House shall create a special cell for management of declarations, amendments thereto, Annexure certificates, registers etc. The cell shall be responsible for keeping the Declarations and other relevant papers in a proper manner and tracking the remittance of export proceeds. Further, officers will be specially designated by the Commissioner to verify the BRC/negative statement and to make entries in the BRC module. Notices will be issued by Customs to recover drawback paid on export consignments in respect of which export proceeds have not been realized. 7. The system will indicate to the Assistant Commiss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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