Question ID :
40724
GST Refund
A company created websites for clients abroad and received payments in bank in forex. Bank has not provided BRC/FIRC.
a. Is it compulsory for a bank to provide BRC/FIRC?
b. If the bank does not provides BRC/FIRC then how to file Refund application with our the BRC/FIRC?
Please suggest the way out.
Thanks & Regards
Posted by
SK
on
Jul 16, 2020
Filed Under
GST
BRC is proof of inward repatriation of forex. If there's alternate proof of inward remittance of forex, submit application for refund and request that deficiency memo should not be issued but show cause notice be issued in RFD8. And the reply in RFD9 to SCN you may prove forex repatriation with such alternate evidence. Please keep in mind if forex repatriation cannot be proved (for any reason) output tax will be demanded as this is still an inter-State supply that's not amounting to export.
Posted by
CA. JATIN CHRISTOPHER A on
Jul 17, 2020