As per RBI latest guidelines, once we export goods, we must receive payment in our bank account, moreover, government incentives would only be provided once proof of remittance is provided.
EBRC = Electronic Bank Relization Certificate; when money is received in a bank account, bank will provide data to DGFT & one can download the EBRC from official DGFT website www.dgft.gov.in -> Online eBRC -> View & Print your eBRC. Enter your banking & IEC details.
FIRC = Foreign Inward Remittance Certificate is also issued by a bank in case of payment realised in INR or advance. It also works as a proof of remittance received. Inward Remittance money (certificate) received from other bank accounts not liked with IEC Code must be provided to the actual bank for the setting of an export transaction as per RBI Guidelines.
