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HomeEconomyBihar to get eBRC data from DGFT

Bihar to get eBRC data from DGFT

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New Delhi: The Commercial Tax Department of Bihar has signed a Memorandum of Understanding (MoU) with Directorate General of Foreign Trade (DGFT) for sharing of realisation data.

The realisation data is an important economic indicator as it quantifies level export earnings. This is also known as eBRC (Electronic Bank Realization Certificate) data. BRC can be used by government departments for ensuring refund of VAT to eligible exporters.

The e-BRC project enables banks to upload realisation information relating to merchandise goods exports on to the DGFT server under a secured protocol. So far 100 banks operating in India, including foreign banks and cooperative banks have uploaded more than 1.5 Crore e-BRCs on to the DGFT server.

The eBRC project created an integrated platform for receipt, processing and subsequent use of all Bank Realization related information by exporters, banks, central and government departments. Earlier, the banks issued physical copy of BRC to exporters and no data mining or analysis was possible. The process for BRC issuance and subsequent utilization were largely manual and department-centric. The exporters suffered most as they had to run to banks and government departments for claiming benefits.

So far, Commercial Tax Departments of 13 states have signed MoU with DGFT for receiving e-BRC data for VAT refund purposes. These are Maharashtra, Delhi, Andhra Pradesh, Odisha, Chhattisgarh, Haryana, Nadu, Karnataka, Gujarat, Uttar Pradesh, Madhya Pradesh, Kerala and Goa.

In addition, the Ministry of Finance, Enforcement Directorate and Agricultural & Processed Food Products Export Development Authority (APEDA) have also signed MoU with DGFT for receiving e-BRC data.

Commissioner and principal secretary of the Commercial Taxes Department Sujata Chaturvedi represented the Government of Bihar while additional DGFT DK Singh represented DGFT. The ceremony was MoU signing presided over by DGFT Anup Wadhawan.

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PM Modi says, Centre approved schemes worth over 1 lakh crore rupees for the development of Uttarakhand in the last five years; Inaugurates and lay foundation stone of multiple projects worth around Rs 18,000 crore at Dehradun.

Listen to #News in Details: https://www.youtube.com/watch?v=XU2uEM5VdXE

There is practically no country with 20%-90% Muslim population it’s either below 20 or above 90%.
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