CBIC Introduces Auto-Approval of Incentive Bank Account and IFSC Code Across All Customs Locations [Read Circular]
CBIC introduced auto-approval of incentive bank accounts and IFSC codes across all customs locations to speed up IGST refund and drawback processing.
CBIC - Taxscan
CBIC - Taxscan
The Ministry of Finance, through the Central Board of Indirect Taxes and Customs (CBIC), issued Circular No. 24/2025-Customs dated 7 October 2025, announcing a new system for auto-approval of incentive bank accounts and IFSC code registrations across all customs locations.
Earlier, exporters had to register their bank account and IFSC code separately at each port through the ICEGATE portal to receive refunds and incentives. Each request required manual approval by customs officers, often leading to duplication and delays.
Instruction No. 25/2023-Customs, issued in July 2023, had already prescribed a timeline requiring such approvals to be granted on the same day if filed before 2 PM, or the next working day if filed later. Despite these measures, exporters continued to face difficulties when operating through multiple ports.
The new circular resolves this issue by introducing an automatic approval system. Under the revised process, once a particular bank account and IFSC code combination for an Importer Exporter Code (IEC) is approved at any one customs location, it will be automatically approved across all other ports. This eliminates the need for exporters to submit duplicate applications or wait for manual verification at each location.
According to the CBIC, the existing workflow for submission on the ICEGATE portal remains the same. Exporters will continue to file requests online, but in eligible cases, the system itself will approve the registration without sending it to port officers for manual scrutiny. After approval, the details will automatically move to the Public Financial Management System (PFMS) for validation, following the current procedure.
The CBIC explained that this initiative will make customs procedures faster and more user-friendly for the trade community. It is expected to save time for exporters, reduce administrative burden on officers, and contribute to improving India’s ease of doing business ranking.
The board also invited feedback from exporters and customs officers, stating that any difficulties faced during implementation can be reported for prompt redressal.
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
