EDPMS, IDPMS & FEMA 

New e-BRC Self Certification

Introduction:

FEMA empowers the Reserve Ban k of India (RBI) to set rules and guidelines for foreign exchange dealings, ensuring compliance and preventing unlawful activities. Non-compliance with FEMA regulations can result in penalties and lega l actions, making it crucial for businesses engaged in international trade to understand and adhere to its provisions.

The key to monitoring and communication amongst different stakeholders is Export Data Processing and Monitoring System (EDPMS) and the Import Data Processing and Monitoring System (IDPMS) face several challenges.

One of the primary challenges is the complexity of compliance. Both systems require strict adherence to the regulations set forth by FEMA (Foreign Exchange Management Ac t), which can be intricate and subjec t to frequent changes, making compliance a moving target for businesses involved in international trade.

Understanding FEMA regulations, which govern al-l foreign exchange transactions in India, is crucial. Non-compliance can lead to severe penalties and lega l actions.

This training program on Aspects of FEMA, RBI notification, EDPMS, IDPMS with a special focus on ne w Self- certification of e- BRC is meticulously designed to equip participants with the necessary tools and knowledge to navigate the complexities and challenges of these systems effectively.

Course Content

Session 1 : EDPMS / IDPMS – Procedure, Issues & Challenges

IDPMS:

• Receipt of import bills/documents
• Evidence of import
• Settlement of ORM with BoE
• Extension and writeoff
• Follow-up for evidence of import
• Verification and preservation
• Challenges in high sea salestransactions

EDPMS:

• Export of goods/software done through EDI ports
• Issuance of Electronic Ban k Realisation Certificate (eBRC)
• Setoff of export receivables against import payables
• EDPMS – Additional modules for caution listing of exporters, reporting of advance remittance for exports, and migration of old XOS data
• EDPMS – Responsibility of remittance receiving and converting ban k
• EDPMS – Clarification on closure of export bills
• EDPMS – Closure of entries

Self-Certification of e-BRC

• Debugging ne w Self Certification of e- BRC
• System flow for issuance of e- BRC
• Challenges and caution
• Applicability to service and physical exports
• Practical problems, case studies, and suggested solutions for exporters/importers
• FEMA and RBI Master Directions

Session 2: FEMA – Rules & Regulations

• FEMA on export of goods and services
• Regulatory compliance
• Responsibilities of AD (Authorized Dealer) in handling export transactions
• Export of product & services
• Time limit for presentation of export documents
• Time limit for realizing export payments
• Change of buyer – Extension of time limit
• Export writeoff – Handling export advance remittances
• Nettingoff – Direct dispatch of documents to the consignee
• GR Waiver – Export-related remittances
• Lega l expenses, export clai ms, storage and warehousing charges, demurrage and agency commission – with case studies.
• Rules & Regulations on Exports & Analysis of Master Direction on Export of Goods & Services

A bird’s eye view of ne w draft Regulation of RBI

Timings: 10:00 am – 5:30 pm, Registration begins at 9:30 am