Ministry of Corporate Affairs, CBIC sign MoU for exchange of data to enhance Ease of Doing Business in India

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National News

Feb 25, 2021

1:54PM

Ministry of Corporate Affairs, CBIC sign MoU for exchange of data to enhance Ease of Doing Business in India

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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 improve 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.

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.