Question : MANDATORY TRANSMISSION OF BANK REALISATION

(a) whether the transmission of bank realization against shipping bills has been made mandatory;

(b) if so, the details thereof and the reason therefor;

(c) whether the Directorate-General of Foreign Trade and Commissioner (Trade and Taxes), Government of National Capital Territory have signed any Memorandum of Understanding (MoU) to use Electronic Bank Realisation Certificate;

(d) if so, the details thereof and the salient features of the said MoU along with the name of other States which have signed such MoU; and

(e) the steps taken by the Government to enter into such MoU with other State Governments?

THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (DR. D. PURANDESWARI)

(a) Yes Madam.

(b) It has been made mandatory with effect from 17.8.2012. It has been done to reduce transaction cost.

(c) Yes Madam.

(d)& (e) The objective of this Memorandum of Understanding (MoU), signed on 05.06.2013 with Department of Trade & Taxes, Government of National Capital Territory of Delhi is to utilize eBRC data available on DGFT site in refunding VAT and in facilitating other related tax administration. Government of Maharashtra (Sales Tax Department), Government of Odisha (Commercial Taxes Department) and Government of Andhra Pradesh (Commercial Taxes Department) have already signed MoU with DGFT.