The Central Board of Direct Taxes (CBDT) has signed an MoU with the Central Board of Indirect Taxes and Customs (CBIC) to facilitate smoother bilateral exchange of data. According to the MoU, both the organisations will share data and information with each other on an automatic and regular basis. They will also share any information available in their respective databases which may be useful for the other organisation.
Signing of the MoU also marks the beginning of a new era of cooperation between the CBDT and CBIC. This MoU will also supersede the MoU signed between CBDT and the erstwhile Central Board of Excise and Customs (CBEC) in the year 2015.
Important takeaways for all competitive exams:
- Chairman of Central Board of Indirect Taxes and Customs: M. Ajit Kumar.
Chairman of Central Board of Direct Taxes: Pramod Chandra Mody.