Income Tax Update - Press Release:- Memorandum of Understanding(MoU) between CBDT and CBIC signed today

A Memorandum of Understanding (MoU) was signed between the Central Board
of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs(CBIC)
today, for data exchange between the two organizations. The MoU was signed by Shri
Pramod Chandra Mody, Chairman, CBDT, and Shri M. Ajit Kumar, Chairman, CBIC, in
the presence of senior officers from both the organizations.
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 Central Board of Excise and
Customs (CBEC) to Central Board of Indirect Taxes and Customs. Changed
circumstances including advancements in technology are duly incorporated in the MoU
signed today.
This 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.
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.
The MoU marks the beginning of a new era of cooperation and synergy between
the CBDT and CBIC.
                                                                                                                                                    (Surabhi Ahluwalia)
                                                                                                                                  Commissioner of Income Tax
                                                                                                                                        (Media & Technical Policy)
                                                                                                                                    Official Spokesperson, CBDT