issue regarding non-furnishing of Foreign Inward
Remittance Certificate (hereafter 'FIRC').
8. According to the petitioner, it was not feasible to co-relate ... invoices with separate FIRCs and a consolidated FIRC would be
sufficient to claim the refund for the unutilised Input Tax Credit.
9. The petitioner filed
that in most of the cases
value/amount as indicated in the FIRCs against
the corresponding export invoices as reflected
in statement 2 (as uploaded ... required to reconcile
the differences noticed, export invoices wise vis
- a- vis FIRCS.
2. The copies of export invoices not uploaded in
order to ascertain
bona-fides of the transaction
and export documents, such as, invoice/ FIRC.
(ii) AD bank should consider the FATF statements while handling such
transactions ... bona-fides of the transaction and export
documents, such as, invoice / FIRC. (ii) AD bank should consider
the FATF statements while handling such transaction
issue regarding non-furnishing of
Foreign Inward Remittance Certificate (hereafter 'FIRC').
8. According to the petitioner, it was not feasible to co-relate ... invoices with separate FIRCs and a consolidated FIRC would be
sufficient to claim the refund for the unutilised Input Tax Credit.
9. The petitioner filed
Management Act, 1999 . further, you had also obtained Foreign Inward Remittance Certificates (FIRCs) from the bank showing the above foreign currency as advance payments from ... tourists. On the strength of the FIRCs, DEPB licenses were obtained by you from Directorate General of Foreign Trade(DGFT). You also tried to establish
submit
proof of foreign remittance viz. BRC (for foreign exchange realization) or FIRC
(for foreign exchange realization) or any other document issued from the bank ... reasoning given therein is that the Foreign Inward
Remittance Certificate (hereinafter "FIRC") and invoices are huge in number
and the same cannot
done on the
false pretext that requisite Foreign Inward Remittance Certificates
(FIRCs) have not been issued by the Authorized Dealer/Remitting
Banks. Actually, copies ... such FIRCs have already been submitted
to Reserve Bank of India (RBI) and are also available with
respondent No.1.
It is alleged
Residents. III. You are requested to send Foreign Investment Remittance Certificate (FIRC) to the Regional Office, Reserve Bank of India, immediately on receipt of foreign
supported by a certificate in Form No. 10HA along with copies of
FIRC/TAR/ accounts had been submitted by the assessee. A copy
Neutral Citation Number 2023/DHC/000634
(iii) Copies of FIRCs evidencing the transaction.
(iv) Audited financial statements for Financial Years 2013, 2014 and 2015
disclosing ... transaction)
establishing that investment and sale through banking channels;
iii. Copies of FIRCs evidencing the transaction;
iv. Audited financial statements
