Quick Summary
Chairman, CBIC Sh. M Ajit Kumar and Sh. P C Modi, Chairman, CBDT, in presence of other Members of both the Boards officials of DG Systems, signed an MoU on data sharing between CBIC CBDT to facilitate smoother bilateral exchange of data. A Memorandum of Understanding (MoU) was signed betwee
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FAQ :
The MoU is designed to facilitate the smoother, automatic, and regular bilateral exchange of data and information between the CBIC and CBDT.
The Memorandum of Understanding was signed between the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC).
Yes, this new MoU supersedes the Memorandum of Understanding that was signed between the CBDT and the erstwhile Central Board of Excise and Customs (CBEC) in 2015.
Significant developments have occurred, including the introduction of GST, the incorporation of GSTN, and the change in the name of the Central Board of Excise and Customs to the Central Board of Indirect Taxes and Customs. Technological advancements have also been incorporated.
Data will be shared on an automatic and regular basis. Additionally, information available in their respective databases can be exchanged on request and spontaneously.
Yes, a Data Exchange Steering Group has been constituted to periodically review the data exchange status and improve the effectiveness of the mechanism.
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