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CBDT, CBIC sign MoU for data exchange on an automatic and regular basis
CBDT, CBIC sign MoU for data exchange on an automatic and regular basis
Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) today inked a Memorandum of Understanding (MoU) for data exchange between the two organizations.
Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) today inked a Memorandum of Understanding (MoU) for data exchange between the two organizations.
The MoU will facilitate the sharing of data and information between CBDT and CBIC on an automatic and regular basis. In addition to regular exchange of data, CBDT and CBIC will also exchange with each other, on request and spontaneous basis, any information available in their respective databases which may have utility for the other organization.
This MoU supersedes the MoU signed between CBDT and the erstwhile Central Board of Excise and Customs (CBEC) in the year 2015. In a statement, the direct taxes body has said that significant developments have taken place since the signing of earlier MoU in 2015 including GST, incorporation of GSTN and change in the nomenclature of CBEC to CBIC. It added the changed circumstances like advancement in technology are duly incorporated in the MoU signed today.
The MoU comes into force from today and is an ongoing initiative of CBDT and CBIC, who are already collaborating through various existing mechanisms.
The MoU was signed by CBDT Chairman Pramod Chandra Mody and CBIC Chairman M. Ajit Kumar, in the presence of senior officers from both the organizations.
Earlier, CBDT has also signed similar MoUs separately with Ministry of Micro, Small and Medium Enterprises (MoMSME) and Securities and Exchange Board of India (SEBI) for sharing of data by CBDT to the Ministry.
