Interested to Buy Any Domain ? << Click Here >> for more details...
What is BRC & FIRC
- 4 Answers
- 44769 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Foreign Inward Remittance Certificate(FIRC) is issued by the
bank to the Exporter(A/c holder) on receipt of export
proceeds in Foreign Currency.
On receipt of FIRC the Exporter is required to submit FIRC
with export document copies for endorsement. On receipt of
these the bank will issue Bank Realisation Certificate(BRC).
In India exports are governed by DGFT (for IEC Code), RBI,
FEMA, Customs, etc. The exporter is required to submit money
realisation certificates to the RBI through their bank.
Specific requirement of each of the government dept./agency,
may differ from time to time & needs to be complied with as
per the Exim Policy & bank guidelines as and when required.
| Is This Answer Correct ? | 124 Yes | 12 No |
Answer / rajpal singh negi
BRC= Bank Realisation Certificate which provided by bank to
customer as the certificate for payment received against
export made.
FIRC = Foreign Inward Remittance Certificate, which provided
by bank to customer for any foreign payment received in his
account.
| Is This Answer Correct ? | 103 Yes | 13 No |
Answer / anshuman mishra
FIRC is the certificate issued by the exporter's bank to the customer & certifies that the exporter is getting money from the legal source.
BRC is a certificate issued by the bank to the exporter when exporter submits a copy of FIRC & it certifies that the exporter has received the money against the export he made.
| Is This Answer Correct ? | 29 Yes | 2 No |
Answer / s.koloth
BRC
1.WHICH PROVIDED BY BANK TO CUSTOMER AS THE CERTIFICATE
OF PAYMENT RECEIVED AGAINST EXPORT ITEMS (DRAWBACK)
FIRC
2.WHICH IS ALSO PROVIDED BY THE BANK TO CUSTOMER FOR THE
PURPOSE OF PAYMENT RECEIVED IN HIS BANK ACCOUNT
| Is This Answer Correct ? | 21 Yes | 11 No |
proprietor pays the hotel expenses of foreign client by his icici bank credit card. and then he pays the credit card bill by canara bank current account. how to pass entries in tally for this secnario
Expand-------ACNS
what is finance tell me in exact definition?
What tax form should an LLC with two partners use?
How many types of routing?
define holding company,public company, if the compnay be a public company what will the criteria? asked on 30/7/09
Expand ________AAR
What is the meaning of Blue chip?
what is the difference between draft and cheque
Can anyone plz. tell me where can i get the proforma application for DAO.I have tried all the links but i couldn't find any application proforma in the notifications.
what tax will be on puchasing of sweets and is necessery to use form 38.
what is RTGS? what is the maximum limit of amount stipulation for RTGS transaction?
Audit 
