CBIC Introduces Auto-Approval for IFSC Code Registration

The Central Board of Indirect Taxes and Customs (CBIC) has launched a system-based auto-approval process for IFSC code registration, aimed at enhancing the Ease of Doing Business. This initiative allows automatic approval of requests for the same bank account and IFSC code across multiple Customs locations, eliminating manual intervention and expediting the registration process. The move is expected to streamline Customs procedures, reduce duplication of efforts, and ensure faster credit of export incentives to exporters' bank accounts.

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