Streamline Your Business Compliance

Streamline Your Business Compliance

Is Business Compliance Keeping You Awake at Night?

Are you struggling with business compliance? Look no further! Cleartax offers a wide range of compliance services to cater to your needs. Whether it's income tax e-filing, understanding income tax slabs for the fiscal year 2023-24, or deciding between the old and new tax regime for salaried employees, we've got you covered. Our expertise also extends to areas such as house property, business, professional, and freelance income, as well as capital gains and other income sources.

If you're in need of assistance with income tax refunds, paying tax dues, or have specific questions about salary income, NRI taxes, or HUF taxes, we're here to provide the answers. We can also help you navigate through income tax notices and ensure you stay in compliance with the latest regulations.

In our latest article, we delve into the details of BRC (Bank Realisation Certificate) and e-BRC (Electronic Bank Realisation Certificate) - crucial certificates for export businesses. These certificates serve as proof of payment realization against exported goods or services.

Previously, exporters had to physically visit their banks to obtain a BRC, which could be a time-consuming process. However, with the introduction of e-BRC by the Directorate General of Foreign Trade (DGFT) in 2012, exporters can now access their BRC digitally, making it easier to claim export benefits and incentives.

The e-BRC is an electronic document that officially records foreign trade transactions, and it has replaced the older tangible BRC format. With the integration of banks, foreign exchange realization details can be seamlessly linked to shipping bills, simplifying the process of verifying incentives.

Exporters can now check and download their e-BRCs from the DGFT website. By logging in to the DGFT portal and navigating to the 'Bills Repositories' section, exporters can access their e-BRCs by selecting the relevant bank and date range. The e-BRC can be printed or downloaded for further reference.

To claim export incentives, exporters need to link the relevant shipping invoices with their e-BRCs. The DGFT will use this information to determine the value of the incentives to be provided. It's important for exporters to ensure that the e-BRC value accurately reflects the total realized value reported by the bank. Any discrepancies should be promptly addressed by the bank.

The e-BRC data is also shared with other government agencies, making it easier for exporters to support their claims for GST or Input Tax Credit (ITC) refunds. This integration streamlines the export-related transaction process under GST.

For more detailed information on BRC and e-BRC certification, including step-by-step instructions on how to check, download, and print these certificates, refer to our comprehensive article by Mayashree Acharya, our Senior Content Writer and legal advocate.

At Cleartax, we understand the significance of compliance in maintaining a successful business. Our aim is to simplify complex tax and compliance processes, providing you with peace of mind. Discover the power of Cleartax's compliance services and take control of your business today!

Is Business Compliance Keeping You Awake at Night?

Are you struggling with business compliance? Look no further! Cleartax offers a wide range of compliance services to cater to your needs. Whether it's income tax e-filing, understanding income tax slabs for the fiscal year 2023-24, or deciding between the old and new tax regime for salaried employees, we've got you covered. Our expertise also extends to areas such as house property, business, professional, and freelance income, as well as capital gains and other income sources.

If you're in need of assistance with income tax refunds, paying tax dues, or have specific questions about salary income, NRI taxes, or HUF taxes, we're here to provide the answers. We can also help you navigate through income tax notices and ensure you stay in compliance with the latest regulations.

In our latest article, we delve into the details of BRC (Bank Realisation Certificate) and e-BRC (Electronic Bank Realisation Certificate) - crucial certificates for export businesses. These certificates serve as proof of payment realization against exported goods or services.

Previously, exporters had to physically visit their banks to obtain a BRC, which could be a time-consuming process. However, with the introduction of e-BRC by the Directorate General of Foreign Trade (DGFT) in 2012, exporters can now access their BRC digitally, making it easier to claim export benefits and incentives.

The e-BRC is an electronic document that officially records foreign trade transactions, and it has replaced the older tangible BRC format. With the integration of banks, foreign exchange realization details can be seamlessly linked to shipping bills, simplifying the process of verifying incentives.

Exporters can now check and download their e-BRCs from the DGFT website. By logging in to the DGFT portal and navigating to the 'Bills Repositories' section, exporters can access their e-BRCs by selecting the relevant bank and date range. The e-BRC can be printed or downloaded for further reference.

To claim export incentives, exporters need to link the relevant shipping invoices with their e-BRCs. The DGFT will use this information to determine the value of the incentives to be provided. It's important for exporters to ensure that the e-BRC value accurately reflects the total realized value reported by the bank. Any discrepancies should be promptly addressed by the bank.

The e-BRC data is also shared with other government agencies, making it easier for exporters to support their claims for GST or Input Tax Credit (ITC) refunds. This integration streamlines the export-related transaction process under GST.

For more detailed information on BRC and e-BRC certification, including step-by-step instructions on how to check, download, and print these certificates, refer to our comprehensive article by Mayashree Acharya, our Senior Content Writer and legal advocate.

At Cleartax, we understand the significance of compliance in maintaining a successful business. Our aim is to simplify complex tax and compliance processes, providing you with peace of mind. Discover the power of Cleartax's compliance services and take control of your business today!

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