2.25.2

In cases where the exporter directly negotiates the document ( not through the authorised dealer) with the permission of the RBI, he is required to submit the following documents for availing of the benefits under the export promotion schemes:

a) permission from RBI allowing direct negotiation of documents (however this is not required for status holders who have been granted a general permission),

b) copy of the Foreign Inward Remittance Certificate (FIRC) as per Form 10 H of the Income Tax department in lieu of the BRC and

c) Statement giving details of the shipping bills/ invoice against which the FIRC was issued.

(Above Para 2.25.2 has been amended vide PN. No. 51/2002-07, Dt. 04/12/2002)

[OLD - In cases where the exporter directly negotiates the document (not through the authorised dealer) with the permission of RBI, he may submit copy of “Foreign Inward Remittance Certificate (FIRC)” in lieu of Bank Certificate of Export and Realisation (BRC).]