E-BRC (Bank Realization Certificate) for Payments received through PayPal
We are an Indian Service Exporters and receiving payments through PayPal. The Indian Regulations makes it compulsory to obtain E-BRC for Exports.
PayPal has tie up with CITI Bank and CITI bank Provides FIRC Advice. However, CITI Bank is not providing E-BRC for this receipts. My Banks (HDFC and Bank of India) have also refused to issue E-BRC as they have received amount in INR from CITI Bank.
Please guide in this matter; how to obtain E-BRC; whether CITI Bank should provide it or my Bank.
Most of the exporters using PayPal must be facing this issue.