CBDT and CBIC sign MoU for exchange of information on automatic and regular basis

CBDT and CBIC sign MoU for exchange of information on automatic and regular basis


The Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC) signed a Memorandum of Understanding (MoU) for exchange of information

This MoU supersedes the MoU signed between CBDT and the erstwhile Central Board of Excise and Customs (CBEC) in the year 2015.

“Significant developments have taken place since the signing of earlier MoU in 2015 including introduction of GST, incorporation of GSTN and change in the nomenclature of CBEC to CBIC,” the direct taxes body said in a statement Tuesday.

“Changed circumstances, including advancements in technology, are duly incorporated in the MoU signed today,” it added.

This MoU will facilitate the sharing of data and information between CBDT and CBIC on an automatic and regular basis, including on request, from their respective databases.

The MoU comes into force from the date it was signed and is an ongoing initiative of CBDT and CBIC, who are already collaborating through various existing mechanisms.

A Data Exchange Steering Group has also been constituted for the initiative, which will meet periodically to review the data exchange status and take steps to further improve the effectiveness of the data sharing mechanism.





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