Why is the FIRS important to your beneficiaries in India?

Answer 1

• Serves as an evidence for receiving international payments
• Is a must for the beneficiary’s bank to issue the - 

• Foreign Inward Remittance Certificate (hereon referred to as “FIRC”) and 

• Bank Realisation Certificate (hereon referred to as “BRC”)

• The FIRC & BRC are crucial documents required by DGFT (Directorate General of Foreign Trade), Central Board of Indirect Taxes, and Customer or similar authorities to claim any export-related incentives, custom duty exemptions, refunds on service tax, or any other financial assistance