The Ministry of Corporate Affairs and Central Board of Indirect Taxes and Customs have signed an MoU for exchange of data for enhancing ease of doing business in India and improving overall regulatory enforcement. Both the organisations will benefit from access to each other’s databases which include details of import-export transactions and consolidated financial statements of companies registered in the country.
The MoU was signed by Joint Secretary, Ministry of Corporate Affairs Manoj Pandey and Additional Director General, CBIC B. B. Gupta. The Corporate Affairs Ministry said, technology and data will play a critical role going forward in fulfilling the Government’s vision of minimum government, maximum governance. It said, the MoU marks the beginning of a new era of cooperation and synergy between the two organisations.
About
Surbhi Saxena edits the daily Current Affairs News.
The author is qualified member of The Institute of Company Secretaries of India (ICSI).