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


India

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 Central Board of Bid Taxes (CBDT) and the Central Board of Oblique Taxes and Customs (CBIC) signed a Memorandum of Figuring out (MoU) for alternate of files

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

“Important inclinations bear taken location since the signing of earlier MoU in 2015 including introduction of GST, incorporation of GSTN and swap within the nomenclature of CBEC to CBIC,” the inform taxes physique mentioned in a sing Tuesday.

“Modified cases, including advancements in technology, are duly integrated within the MoU signed on the present time,” it added.

This MoU will facilitate the sharing of files and files between CBDT and CBIC on an automatic and current foundation, including on inquire of, from their respective databases.

The MoU comes into force from the date it was once signed and is an ongoing initiative of CBDT and CBIC, who’re already participating thru various present mechanisms.

A Information Change Steering Community has additionally been constituted for the initiative, which would possibly meet periodically to appear on the guidelines alternate build of residing and resolve steps to extra pork up the effectiveness of the guidelines sharing mechanism.


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