Auto Approval of Incentive Bank Account and IFSC Code Registration requests for IEC
CBIC announces auto-approval of Incentive Bank Account and IFSC Code Registration requests for an Importer Exporter Code (IEC) at different customs locations
Instruction No 25/2023-Customs dated 28.07.2023 stipulates list of documentary requirement and timeline for approval of AD code and IFSC registration for incentive bank account at the port.
With respect to bank account registration for IGST refund /drawback purpose option is available in ICEGATE portal for applying registration of incentive bank account for every port, where exporter intends to transact. Vide the said instruction it was directed to put in place a suitable mechanism the application for AD Code/bank account registration dealt on same day when made before 2 PM. In other cases, the application should be disposed before 2 PM on next working day.
On an examination of the IFSC code approval requests at different ports in consultation with the Directorate General of Systems, CBCI has decided that the system will automatically approve requests for registration of the same incentive bank account and IFSC code for an Importer Exporter Code (IEC) at different customs locations, provided that the same combination has already been approved at any one customs location.
Circular No. 24/2025-Custom dated 07.10.2025 issued in this regards by CBIC clarifies that the existing workflow of submission of requests shall remain unchanged. However, in the above-mentioned cases, the approval will be granted directly by the system, and such requests will not be routed to the Port officer for manual approval. Once approved by the system, the request will continue to flow to PFMS (Public Financial Management System) for validation, as per the existing process.
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