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CBDT, CBIC sign pact for data sharing

CBDT, CBIC sign pact for data sharing

The direct and indirect tax boards have entered into an agreement for data exchange between them, the government said on Tuesday. The pact will facilitate data sharing between Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) on an automatic and regular basis.

In addition to regular exchange of data, CBDT and CBIC will also share with each other, on request and spontaneous basis, any information available in their respective databases which may have utility for the other organisations. The agreement comes into force from the date it was signed and is an ongoing initiative between the two organisation, the government said.

It added that the memorandum of understanding (MoU) supersedes the one 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 Central Board of Excise and Customs (CBEC) to Central Board of Indirect Taxes and Customs (CBIC). Changed circumstances, including advancements in technology, are duly incorporated in the MoU signed today,” the government said.

The MoU was signed by Pramod Chandra Mody, chairman, CBDT, and M. Ajit Kumar, chairman, CBIC, in the presence of senior officers from both the organizations.

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