Finance Ministry Revises Banks Authorized for Customs Duty Payment Collections [Read Notification]

The Ministry of Finance has notified the updated list of authorised banks for collection of customs duty payment. The government notified the same through notification No. 24/2025-Customs dated 28th April 2025.

In the said notification, in the Annexure to the Table, for List 34A and List 34B, and the entries relating thereto, the following Lists and entries shall respectively be substituted, namely:-

Also read: Relief for Tata Teleservices: ITAT Rules Interest Payments to China Development Bank Exempt Under India-China DTAA

Master DTAA – International Taxation | Live Online Course - Click Here

“ List 34A (See S. No. 359A of the Table) – with effect from 1st April, 2025 and valid up to 31st March, 2026:

1. Axis Bank Limited
2. Bank of India
3. Federal Bank Limited
4. HDFC Bank Limited
5. Industrial and Commercial Bank of China Limited
6. ICICI Bank Limited
7. IndusInd Bank Limited
8. Kotak Mahindra Bank Limited
9. Karur Vysya Bank Limited
10. Punjab National Bank
11. RBL Bank Limited
12. State Bank of India
13. Yes Bank Limited

Also read: Revenue Recognition under Ind AS 115: Common Errors and How to Avoid Them

Step by Step Guide of Preparing Company Balance Sheet and Profit & Loss Account Click Here

List 34B (See S. No. 359A of the Table)- with effect from 1st April, 2025 and valid up to 31st March, 2026 :

1. Indian Overseas Bank
2. Union Bank of India.”

To Read the full text of the Notification CLICK HERE

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates