BRCs Submission Period by Status Holders Relaxed to 12 Months from 6 Months

The following Public Notice was issued by the Commissioner of Customs (Export) Jawaharlal Nehru Customs House on 11th May 2010.

[Customs Public Notice No. 52 dated 11th May 2010]

Sub: Submission of BRCs by Star and Status holder exporters and relaxation of time schedules for Status holders in terms of RBI Master Circular No. 09/2007-08 dated 02.07.2007.

It is for the information of all Star/Status holder exporters, Custom House Agents & the Trade that in terms of RBI Master Circular No. 09/2007-08 dated 02.07.07, the period of realization should be as applicable i.e. 180 days for non status holder exporters and 12 months for status holder exporters.

2.   All Star/Status holder exporters may avail benefit of 12 months period for submission of Bank Realization Certificate (BRC) on submission of proof of their Star/Status holder to this Custom House.

3.   As per Board’s Circular No. 05/09 and Public Notice No.11/2009 dated 09.03.09, exporters are required to submit a certificate from the authorized dealer(s) or chartered accountant on a 6 monthly basis, before 7th day of January and 7th day of July in respect of exports which have become due for realization in the previous 6 months. Now, all Star/Status holder exporter can avail 12 month period for submission of BRCs provided proof of their Star/Status holder is submitted to this Custom House.

4.   Any difficulty faced in this regard may be brought to the notice of the Addl./Asstt. Commissioner of Customs, Drawback Section, JNCH.

F.No. S/12- GEN-1450/07 DbkJNCH