New Delhi, Oct. 7 -- The Central Board of Indirect Taxes and Customs (CBIC) has introduced system-based auto-approval for IFSC code registration to enhance ease of doing business, an official statement said today.
Under this new initiative, the system will automatically approve requests for registration of the same incentive bank account and IFSC code for a particular Importer Exporter Code (IEC) at multiple Customs locations, provided the same combination has already been approved at any one location.
Thus, manual intervention by the Port Officer will be eliminated, and the system will directly approve such requests, the statement added.
This initiative is aimed at: (i) swift processing of bank accounts and IFSC code approval requests, ...