Difference between BRC and FIRC Posted on 08 April 2023 Category : Export The information provided here is part of Online Export Import course How to differentiate between BRC and FIRC? I have been receiving many enquiries asking the difference between BRC and FIRC - Bank Realization Certificate and Foreign Inward Remittance certificate. Some asked, what is BRC and others what is FIRC and difference between BRC and FIRC. Strictly speaking, both are certificate issued by authorized dealer bank to the customers for receiving amount from foreign countries. Let us discuss in detail: FIRC is issued against any receipt of amount from foreign countries by a bank to their customers. It can be an advance payment against export proceeds, ocean or airfreight, or remuneration or wages under consultancy charges or for any other reasons. BRC means Bank Realization Certificate issued by bank to their customers against any specific documents. Normally BRC is issued by a bank to their customers who has been in to export business on each shipment of export proceeds. Various export promotion agencies provide incentives, import duty exemptions and other financial assistance to the exporters. These agencies requires to be submitted export proof by exporters to claim such benefits. One of the proof of exports other than export promotion copy of shipping bill (EP copy of shipping bill), Mate Receipt issued by the carrier and/or customs authorized ARE-1 (for goods under central excise only) is Bank Realization Certificate BRC issued by the respective bank who received foreign amount for exporters. So once after receiving the amount under each shipment, the exporter approaches their bank and submits the proof of exports and FIRC details (Foreign Inward Remittance Certificate) to obtain a BRC under each shipment. This Bank Realization Certificate BRC is submitted with the various authorities as proof of shipment or proof of exports along with customs legal document of EP copy of shipping Bill, Mate receipt issued by carrier of goods and central excise document of ARE – 1 where ever applicable. Here you need to observe that an FIRC can be obtained whenever you receives amount from foreign country. It can be an advance amount against exports or services. Before introducing EDI system (Electronic Data Interchange), a GR form has to be filed by exporters along with shipping bill to customs for completion of export procedures and formalities. The copy of shipping bill is impressed on GR form. GR form is a document of export to be submitted with RBI to regulate foreign inward remittance. In order to get BRC, exporter has to submit a copy of GR form to prove the account under which they had received foreign amount. At present, there is no FIRC or BRC required for government export promotion agencies like DGFT or Customs department where in EDI facility available, as the said foreign receipt is directly linked electronically with customs and DGFT through the authorized dealer bank of exporters. So, the exporters need not obtain FIRC (foreign inward remittance certificate) or BRC (Bank realization certificate) from their bank to claim any export benefits from DGFT or customs department. Also read - NO BANK REALIZATION CERTIFICATE FOR INDIAN EXPORTERS. Difference between GR and SOFTEX I hope, I could explain the difference between BRC and FIRC. Have you satisfied with the explanation on the difference between FIRC and BRC? What is your experience in handling FIRC and BRC? Would you like to add more inforamtion about FIRC and BRC? Share your experience in handling BRC and FIRC below. The above information is a part of Export Import Online Tutorial No Bank realization Certificate BRC required for Indian Exporters Difference between BRC and FIRC FTP 2015-2020, Electronic Bank Realization Certificate, eBRC E BRC, Electronic Bank Realization Certificate Exchange rate in e BRC as per Foreign Trade Policy of India How to claim scrips from DGFT, if eBRC, EP copy of shipping bill lost? Other details on how to import export Mode of payments in international trade Does exchange rate of currency effect export business? What is Terms of Delivery in Imports and exports How to send export samples to foreign buyer? Tips to send samples to foreign buyer How Running bond works How to start Export Business? How to get Export Orders? What are the risks and solutions in Export Business? Click here to know India Trade Classification(ITC) Service Tax - Click here to read complete notification under Budget 2014 What is Bank post shipment credit to exporters? 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Baggage clearance after GST implementation Comments is it possible to issue brc in case of original copy of firc is lost?: On 14 March 2013 is it possible to issue brc to an exporter when the original copy of firc is lost and with xerox copy of firc, and other original copy of exchange control,invoice, covering letter, shipment copy, fema declaration and etc. plz answer @ the earliest. regard devendra kumar admin: On 23 March 2013 Hi Devendra kumar, You may contact your bank who can provide accurate information. K CHANDRASEKHAR: On 28 March 2013 Dear Sirs, I have gone through the Difference between BRC and FIRC thru your article dated 25th, February, 2013. I would like to request you to kindly can u provide me any authenticated Notification/Circular from any Govt Dept in this regard. Your help us a lot. Krishna: On 28 March 2013 Dear K Chandrashekhar, Can some one explain more about BRC and FIRC. Just for an interest to know more about BRC and FIRC. Thomas: On 30 March 2013 As per my knowledge BRC is Bank release certificate under an export and FIRC for any reciept of foreign payment. Kumar: On 17 May 2013 good information !! Anshul: On 08 June 2013 Hi, Thanks for the info. I have a started a small export business and recently shipped a few products using the postal route and about to receive my first payment less than $1000. I asked my bank (HDFC) - they said I can receive the payment directly into my current account against which HDFC will provide me with FIRC. So far so good. But after that, they said, I need to submit shipping documents and get a BRC. My question is, if I am not claiming any incentives, do I need to submit shipping documents and ask for a BRC? Can I get penalized for not submitting shipping info? Also, can the shipping info be just a registered post receipt? Thanks, ADARSH MEHRA: On 04 July 2013 My company is into exports and i want to know that if the forein inward payment is recieved in other bank rather than the bank mentioned in the exchange control copy can BRC be issued by the bank which recieved payment against FIRC krishna: On 27 July 2013 Dear sir, Very much thanks for your selfless service by sharing the knowledge with free of cost. We have a small doubt that what is house BL and how it works. regards, krishna. surendran: On 09 October 2013 Hi Krishna, Know about house BL, please read http://www.howtoexportimport.com/How-to-differentiate-BL-and-HBL--470.aspx Vivek: On 12 October 2013 Dear sir, I want to know that can eBRC be issued on Exchange Control Copy of Shipping Bill or is it compulsory to submit Export Promotion Copy of Shipping bill only? What if we have given to bank EC Copy's no. & date instead of EP Copy's no. & date for obtaining eBRC? Amrin Himani: On 23 October 2013 Dear Sir, Is there any provision where one can claim benefit of FTP, where exports made to Iran and the receipts are directly credited to the bank accounts of the company and bank denies to issue FIRC/BRC ?? Arjun: On 28 October 2013 really good description FIIFI ESSUMAN: On 12 November 2013 KINDLY SEND TO ME MORE DETAILS OF EXPORT & IMPORT TRADE AND PAYMENT TERMS ETC ela: On 21 November 2013 sir what is the difference bet correspondnt bnk,advising bnk,negotiation bnk pournima: On 21 November 2013 Why there is not auto dispatch of FIRC to beneficiary from the remitter bank in whose account the foreign money is being remitted. Karthik: On 09 December 2013 Hello, I would like to know if in the vent that the exporter has lost the Exchange control copy ,can he submit any other document to the Bank like the xerox copy of the Exporter copy or Xerox of theEP copy? Is there a way to get a duplicate shipping bill copy from customs ,for the sole purpose of submitting it to the bank? Please advise . Swapna: On 14 December 2013 Satisfied. Thank you Rajan: On 27 January 2014 FIRC is issued with validity of one year . does the validity is counted from the date of issuance of FIRC or from the date of receipt of funds by AD and credit effected to the beneficiary`s account. Thanks Dipak: On 08 February 2014 please advise if any exporters ferget to take BRC copy from bank and after three years time he approached bank for BRC but bank is refused to issue BRC with reason that now the country in which matrial is exported is under senction country they can not issue the brc against inspite all papers are in regular mode,so absence of BRC copy exports should have right to get all export Benefit from DGFT.Please advise. Prajakta: On 14 February 2014 Dear sir, We are exporter and we have unit in SEZ. we certified export house. Recently we are facing problem from Bank for mismatch of remittance buyer name, and bank refuse to issue BRC. Our terms with buyer is advance and balance against BL. Now buyer is made advance payment from their own arrangement,which is not in his name, which i have no control. In this case what i can do with bank under which notification. please guide us. Ahm Islam: On 16 February 2014 hi, I have been reading your posts & gained some knowledge through them. I am working on Refined Oil products. I have End Buyer & End Seller set up. As well as I have my own Financial partner too to finance transaction. Basically, all i am trying to get is "Back to Back" transaction. Since, i have not been in the real field physically yet, is there anywhere I can get or you can provide me some relevant info. Please advise. Ahm Surendran Kollerath: On 08 March 2014 Hi Amrin Himani, As per my latest information, FIRC/BRC is exempted as the same is directly linked with authorized bank. Please re confirm once again with the authorities Surendran Kollerath: On 08 March 2014 Hi Karthik, Since most of customs locations have the fecility of filing documents electronically, arranging a duplicate copy of EC copy is possible. The exporter also can approach for a duplicate copy of EC copy with customs officials if shipping bill was filed manually. You can also consult your authorized banker about the acceptance of xerox copy of EP copy of shipping bill in lieu of EC copy of shipping bill. Surendran Kollerath: On 11 March 2014 Any reader who knows about 'Back to Back Transaction' can reply to Mr.Ahm Islam Surendran Kollerath: On 11 March 2014 Hi Prajakta, Same issue has been being continued nowadays for many exporters after introduction of fast remittance arrangements in this globalized scenario. However, foreign inward and outward must be monitored by each country which is the indicator of balance of trade in turn economy of each country. So I request all exporters and importers to have a good idea about fund transfer from buyer to supplier after reconfirming with their authorized banker. Manibhai Patel: On 28 April 2014 Hye I am M.G. Patelpls.canyou advise me How to send on line Brc certificate to DGFT and get receipt of DGFT? and also send the link for online sending the BRC certificate KARUPPASAMY K: On 13 August 2014 Dear sir, I want receive money from london. I need FIRC how i can this certificate whom issued this certificate. please tell me breifly about this. Please send to my mail id. krishna vinay: On 04 September 2014 how to modify a purpose code in FIRC,which is entered wrongly.what is the procedure M Durai Rajan: On 26 November 2014 We have been exporting fashion garments (silk and other) for the past 2 years through e commerce. We have got the FIRC from the banks for all exports. We are not interested in availing any export related benefits from the government or other authorities at the moment. Is there a need to get the BRC? What purpose does it serve? Does the accounting of the foreign exchange received through the banking channels complete on our side - we receive funds from our customers through registered payment gateways directly into our account and we export our consignments as commercial cargo. We have the commercial invoice and the FIRC for each consignment. Please advice if we require the BRC. In case we decide to go for any export related benefits from the authorities in future, how do we go about doing that? Thanks and regards. Durai Rajan Bhavyesh shah: On 23 January 2015 Hello good morning, My question is for what purpose BRC & foreign exchange remmitance use?? If my company is provide gems or gems manufacturer and gems mah be in colour and also have research center for identify the same. Then on that which typ of duties applicable??? sanjay kumar singh: On 02 February 2015 thanks allot it is very useful to us. rs verma: On 31 March 2015 dear i am working in leather industries for leather machines service. one Italian machine manufature company ask me to give support for reparing of his machine. i am ready to do. but how i can get payment from him. he is asking for bill. i am not regested firm. how i can make invoice. and get this money thu. bank. pls help me. Asish Biswas: On 10 April 2015 My export payment received by another bank and I got FIRC from that bank. Now I have to submit export documents to my bank where my current accout is. My question is that is it necessary to submit Original FIRC along with the exorts documents to my bank? SUBHASH: On 11 April 2015 Dear sir, we are exporter and payments remitted by the HDFC BANK a advance payment ie. FIRC NOW HDFC BANK ACCOUNT CLOSED AND PENDING BRC IS TO BE UPDATION TO OTHER EXISTING BANK KARNATAKA BANK PLEASE INFORM US ARE KARNATAKA BANK CAN UPDATION THE BRC WHICH PAYMENT RECEIVED THROUGH HDFC BANK PLEASE INFORM US THANKS ! IT IS MOST URGENT B.RAVISHANKAR: On 16 July 2015 Sir, I have received payments through INDIAN BANK - TREASURY BRANCH, CHENNAI and proceedings credited to my SYNDICATE BANK a/c for which I have got the FIRC's. Now SYNDICATE BANK is denying to upload E-BrC into the DGFT site. I am about to lose nearly 5 lacs INR from FOCUS PRODUCT SCHEME. kINDLY SEND ME A PERSONAL URGENT MAIL IMMEDIETLY IF POSSIBLE. Already I have lost 3 lacs earlier. Kindly oblige. Ravishankar. suresh: On 30 July 2015 Dear Sir, We are exporters of Areca Leaf plates! Kindly guide me for the following: (1) I receive Inward remittance by SWIFT and i have received FIRC. Bank is taking more time and avoiding to issue e-brc. Can i claim incentive under MEIS using the FIRC (2) Some of my payments are being made by International RTGS. How do i get FIRC or e-brc. KINDLY GUIDE ME, THANKS AND REGARDS, SURESH MANISH DALWADI : On 15 October 2015 I used to read your Articles n How to Export and Import, and gain valuable knowledge in the filed. sir, I have one query..We want to make a transaction in which we will place an purchase order in One Country say USA with instruction to Export the same directly to another country say Africa, without bringing it to India. So how can we made this transaction and what procedure we should follow with respect to Receipt and Payment of foreign Exchange in terms of recent RBI policy. Kamal Israni: On 16 January 2016 dear sir, please do let me know one thing, if we export material to some buyer and we get payment in dollars from other person or from other country, then how can we get the BRC from our bank, as bank says its not allowed to get dollars from some other person, please do let us know what to do in this situation samba murthy: On 16 January 2016 Respected Seniors, i have registered AD code from bank A and all my FIRC is received on bank B, is it possible to get the BRC from bank A. Please help me with your valuable information please, do the needful. SHAFIQUE: On 21 January 2016 Dear Sir, what is duty draw back scheme, how and when can we avail the benefit Ankur: On 29 January 2016 Hello, I export and do not take any draw back. I have an account with HDFC Bank. They send us FIRC for each advance payment. Do we need to submit export document of each export to HDFC. These people charge approx Rs 2900 for each export realization transaction. They pressurised us to submit the export docs for our exports. And now they charged my account for Rs 2862 per transaction. Total of 11 transaction. Similar transaction for the year 2015-16 are also to be given to them . What to do, please guide. rahul: On 20 February 2016 bank denying to upload ebrc , as part payment received from the third party. what can we do ADP Garg: On 21 February 2016 Dear Rahul, Could you satisfy (with documents) your banker that the payment (part) received from third party relates to the same export made/invoice raised by you. SANTOSH: On 18 March 2016 bank is denying to accept the export documents because there is customer name difference in our firc & shipping documents, can we go to RBI with this documents? if yes please suggest the department of RBI handling this issue. bishnu: On 22 March 2016 an we isse brc in case having purpose code p1006?? shivam sharma: On 31 March 2016 Dear sir i am facing a problem that total amount advance received near Rs. 2.5 crore to iran and total export against advance payment is near Rs. 2.482 crore for the year 2015-16 and balance Rs. .018 crore is not traceable amount in export. but after that we receive also some advance amount then such respective bank says we can release all fund but except Rs. .018 crore. my question is it action taken by bank is right and as per rules. +91-9286103434 Sahil Allawadhi : On 10 August 2016 First of all, I would to thank you as your articles are really worth reading. I am a director of a software company. We deliver softwares, applications, modules and other online work (say on per hour basis also) to foreigners against which we receive payment firstly in our PayPal account (in dollars) and then the payment is received in our local INR bank account linked to that PayPal account. Kindly guide me through any of the FEMA or any sort of other compliances that need to be enforced by our side. muveen: On 05 November 2016 how many propose codes, we can issue the e-Firc. its urgent Raghu: On 21 December 2016 Dear Sir - For the inward remittances that come in i understand that the FIRC is done away with. Now the bankers only provide the Credit bank advise. With this should we still request for eBRC from the bankers. Am asking specifically for software exports. Manpreet: On 28 December 2016 Dear sir, I am exporting since 2007 and I do not submit firc/shipping bill/BL to bank since then now my banker is asking me to submit these documents for all previous shipping made. Do I need to do that?? Kannu : On 13 February 2017 Can FIRC be endorsed Jain Jolly: On 03 March 2017 Hi Sir, WE are into export of services (Market REsearch services) and we fall under the category of 3% rebate as per para 9.51(i) & (ii) of the foreign trade policy. as per RBI code of exports in services, we ahve the code P1007. we are into business for the last 7 years. now i want to apply for this rebate for the past 7 years. my questions are: 1. am i eligible to get rebate for the last 7 years? 2. i approached the bank for the formalites and they said taht softex and Ebrc will not be applicable. so what is the procedure 3. i asked them if FIRC can be issued by them, to which they said that it will not be issued for the current year (2016-17) but can be issued for the last year. they can only issue a remitance advice for this year. 4. i really want to know, the right way to get these refund. is it through FIRC, EBRC, or some other forms, or what means? Regauesting your help here. Thanks Jain Jolly G.Singh: On 16 April 2017 Hello Sir, I just want to know that as mentioned its not necessary to take BRC from Bank. In that case do i still have to submit all documents like FIRC, shipping bill and all other documents to the bank so that BRC is available on DGFT website. Please help me regarding this as i am new into this business and i have not submitted any documents to the bank. Should i submit the documents for getting BRC? Looking forward for help. Thanks RAJ: On 14 February 2018 Hi, We have received excess remittance through our buyer from gulf. How can we clear BRC. invoice value was USD 2400 and excess amount received USD 7300 Mayur: On 18 June 2018 dear sir, if FIRC required for BRC, then, on what proof FIRC WILL GENERATE????/ JP: On 18 February 2019 Is this BRC and FIRC charges applicable for Carriers. Regards / JOHN Swansea Global Logistics India Pvt Ltd. Handling Import/Export Ex-Bangalore / Chennai H/P No.: +91 9844087880 Vinita: On 19 May 2019 I do exports against advance payment only. I have received payment from overseas the bank is refusing to give me a firc, stating that firc can be given only for fdi & fii. Is there any authority i can approach. The payment has come for purchase of painting for personal use. Hence purpose mentioned by the buyer is personal expense. Ramesh Purushothaman: On 16 April 2020 Indeed, Your message was very much useful. I would also appreciate if you could through some light on Despatches within India for which payments comes from abroad in Foreign Currencies. Whether to Consider as Export? PAWAN MISHRA: On 22 October 2021 dear sir our company receive payment after three years for shipping bill date custom said deposit DBK with intrest jahabar: On 24 June 2022 Recently I followed you on website about your clarifications for the queries raised and it is very useful. I have one queries as below for my Order issued from Saudi Arabia. My name is Jahabar Sadhik from Tamilnadu and in need of your advise on the below scenario I am giving below scenario : I got an Order from a Saudi Arabian Company The Ordered item is available in Saudi Arabia itself (UK Factory agent) Now, I am ordering the item from Saudi Suppliers itself to ship to directly to Saudi Customer. So, the physical item is not available in India. In this case, in which currency the Saudi Customer will pay to me ? so there will be no issues with the bank and then I will transfer the money to Saudi Suppliers ? How about the invoice submission to the Saudi Customer. Your advise is highly appreciated devendra: On 04 July 2022 We face such big problem by bank we submit the documents and the not Release our BRC the lost our document I have every day 10 to 15 shipment For export EDPMS and non-EDPMS They charge me a penalty every three months more than Rs.50,000 I am frustrating this things can you help me how I can take the legal action for this kind of bank