Latest news with #ElectronicBankRealisationCertificates
Economic Times
23-04-2025
- Business
- Economic Times
Govt seeks mode-wise services export data to improve accuracy
New Delhi: In a move to improve the granularity and accuracy of services export data, the government has introduced a new field titled 'Mode of Export of Services' in the eBRC (Electronic Bank Realisation Certificates). The e-BRC is a digital certificate issued by banks to exporters, confirming that payment for an export transaction has been received in foreign currency. This reform also aligns India's data capture policy with international norms, the Directorate General of Foreign Trade (DGFT) said in a notification. 'This Directorate is introducing a new field titled 'Mode of Export of Services' in the eBRC format for the Services Export category, applicable for eBRC generated on or after May 1, 2025,' it reform also aligns India's data capture policy with international norms under WTO (World Trade Organisation) GATS (General Agreement on Trade in Services). This new field, it said, corresponds to the four modes of services trade - cross border supply (like IT services, remote consulting, telemedicine); consumption abroad (tourism, medical treatment in India, foreign students); commercial presence (Indian bank branches overseas, IT company subsidiaries); presence of natural persons (Engineers, doctors, IT professionals on assignment).
Time of India
23-04-2025
- Business
- Time of India
Govt seeks mode-wise services export data to improve accuracy
New Delhi: In a move to improve the granularity and accuracy of services export data , the government has introduced a new field titled 'Mode of Export of Services' in the eBRC (Electronic Bank Realisation Certificates). The e-BRC is a digital certificate issued by banks to exporters, confirming that payment for an export transaction has been received in foreign currency. This reform also aligns India's data capture policy with international norms, the Directorate General of Foreign Trade (DGFT) said in a notification. 'This Directorate is introducing a new field titled 'Mode of Export of Services' in the eBRC format for the Services Export category, applicable for eBRC generated on or after May 1, 2025,' it said. 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Breaks His Silence: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo This reform also aligns India's data capture policy with international norms under WTO (World Trade Organisation) GATS (General Agreement on Trade in Services). This new field, it said, corresponds to the four modes of services trade - cross border supply (like IT services, remote consulting, telemedicine); consumption abroad (tourism, medical treatment in India, foreign students); commercial presence (Indian bank branches overseas, IT company subsidiaries); presence of natural persons (Engineers, doctors, IT professionals on assignment). Live Events
Mint
23-04-2025
- Business
- Mint
Synthetic knitted fabrics MIP norms not applicable for advance authorisation holders, EOUs, SEZs
New Delhi, Apr 23 (PTI) The government on Tuesday said the minimum import price (MIP) condition for certain synthetic knitted fabrics is not appllicable for advance authorisation holders, export-oriented units and units in the special economic zone. There is an MIP of USD 3.5 per kg on certain synthetic knitted fabrics. "Inputs imported by advance authorisation holders, export oriented units and units in the SEZ (special economic zone) shall be exempted from this MIP (minium import price) condition," the Directorate General of Foreign Trade (DGFT) said in a notification. In a separate trade notice, the DGFT said that it is introducing a new field titled 'Mode of Export of Services' in the eBRC (Electronic Bank Realisation Certificates) format for the services export category, applicable for these documents generated on or after May 1. The inclusion of this field is aimed at improving the granularity and accuracy of services export data, it said. The e-BRC is a digital certificate issued by banks to exporters, confirming that payment for an export transaction has been received in foreign currency. "This reform also aligns India's data capture policy with international norms under WTO (World Trade Organisation) GATS (General Agreement on Trade in Services). This new field, it said, corresponds to the four modes of services trade - cross border supply (like IT services, remote consulting, telemedicine); consumption abroad (tourism, medical treatment in India, foreign students); commercial presence (Indian bank branches overseas, IT company subsidiaries); presence of natural persons (Engineers, doctors, IT professionals on assignment). First Published: 23 Apr 2025, 08:09 PM IST
