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Showing posts with the label Exporter

Export: A Economy boosting Activity

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An export is a good that is produced domestically but sold to a consumer overseas. Export is necessary to boost the country’s economy and create a global impact on foreign countries. Export marketing involves shipping goods abroad according to procedures established by both the exporting and importing countries. Exports are important for all countries, whether developed or underdeveloped. Export has broader economic importance as it offers multiple benefits to the national economy. Exports facilitate international trade and stimulate domestic economic activity by creating jobs, boosting production and also increasing government revenue collection. It is highly competitive as the different countries involved are at different stages of economic and industrial growth.  Well, the export is mainly customer-oriented. The Exporter must identify the needs and wants of the customers and Consequently, they design and develop products to create and improve customer satisfaction. The focus on ...

eBRC: Important Documents to claim Export Incentives

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An eBRC (Electronic Bank Realisation Certificate) is an extremely important digital certificate for those involved in the export business. It is issued by a bank as confirmation that the exporter has acquired payment from the buyer against the export of products or services. This post-shipment Export Document is one of the important documents. In simple terms, an eBRC is proof of export. An exporter needs an eBRC in order to take advantage of the various export incentives provided by the government. The DGFT additionally implements the eBRC platform, which lets in banks to electronically add to the DGFT server all overseas exchange realisation-associated statistics associated with exports. This information is transmitted via a digital certificate i.e eBRC. Banks issue/upload the Bank Realisation Certificate (BRC) based on the completion of the payment. Any organization claiming Export incentives under  Foreign Trade Policy is needed to connect legitimate e-BRC as evidence of the re...