A BRC (Bank Realisation Certificate) is a certificate that is issued by an authorised dealer (bank) which receives remittance of export proceeds. A BRC is used to claim benefit under duty drawback, custom rebate and other benefits notified under the foreign trade policy. An exporter which seeks such benefits is required to furnish valid BRC as a proof of realization of payment against the exports made, in addition to other documents such as the goods invoice, the shipping bill, insurance papers and customs documents.
In your case, if the goods are sent abroad only for the purpose of warehousing (and not pursuant to a sale), there is no inward remittance and therefore, your bank will not issue a BRC. However, once the goods are sold, the bank will issue BRC against the realisations of the sale.
You may file the BRC with the authority from whom you with to avail benefits. If your remittance is covered under the e-BRC (Electronic Bank Realization Certificate) project, you are not required to submit the BRC for claiming the corresponding benefits. In this e-system, the details of the remittance is captured and transmitted to the concerned stakeholders and authorities directly, without the need for manual intervention.
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