MoU Signed Between DGFT and Government of Delhi to Use e-BRC

Directorate General of Foreign Trade (DGFT) and Commissioner (Trade and Taxes), Government of NCT of Delhi signed a Memorandum of understanding (MoU) on 5 June 2013 for making use of electronic Bank Realization Certificate (e-BRC).

The MoU was signed between Prashant Goyal, Commissioner (Trade & Taxes) and DK Singh, Additional DGFT.

Transmission of Bank realization against shipping bills was made obligatory since 16 August 2012. Eighty-one banks have transmitted more than 38 lakhs e-BRC to DGFT. DGFT had asked the State Governments to make use of the e-BRC in their efforts to refund VAT and other related tax administration.

The Government of Delhi became the second state to sign the MoU. The first state to sign this MoU was Maharashtra that signed it on 18 April 2013.