This both BRC and FIRC are important certificate issued by the Authorized bank to the customer who receives funds or trade from foreign countries.
Contents
BRC is Bank Realization Certificate that is act as a proof for the foreign export business. The customer who wants to trade under benefits under Foreign Trade Policy requires this document.
Indian Government handle the trade through the departments such us DGFT, RBI, FEMA, Customs etc. This departments check the BRC certificate for foreign trading.
FIRC is similar to BRC. Like BRC, FIRC is Foreign Inward Remittance certificate which is issued by Authorized bank for the transformation of fund from foreign to individual person in India. For more details read below.
What is FIRC [Foreign Inward Remittance Certificate]?
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