Upload ROSCTL E-BRC's before 15th July to avoid legal action
Trade Notice No. 12/2022-23 Dated 30th May, 2022
Attention of the trade and industry members is bought to Para 4.96 (d) of Public Notice 58 dated 29.01.2020, wherein it has been stipulated that under RoSCTL, the rebate allowed is subject to the receipt of export proceeds within time allowed under the Foreign Exchange Management Act, 1999 failing which such rebate shall be deemed never to have been allowed. Action under the FT (D&R) Act, 1992 may be taken by the Regional Authorities for repayment of erroneous or express paid RoSCTL. Earlier a Trade Notice No 13 dated 4th August 2021 had been issued urging all exporters to complay with the extant guidenenss on realization of export proceeds and get the process of uploading of eBRC’s at the DGFT server completed by the AD Banks.
As per RBI guidelines, it is expected that all shipping bills upto 31.12.2020 would have their export proceeds realized by now. Accordingly, all exporting firms, who have been issued scrips under RoSCTL for exports / shipping bills upto 31.12.2020, are requested to get the relevant e-BRCs uploaded in the DGFT server by their AD banks latest by 15.07.2022, failing which action as per para 4.96 of HBP, as notified vide PN 58 dated 29.01.2020 would be initiated by the jurisdictional RAs.
This is issued with the approval of competent authority.