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14 June 2019
Section 138(1) of the Income Tax Act 1961 provides that income tax authorities may provide any information pertaining to a taxpayer to any other authority performing its function under any other law, provided that this is in the public interest.
Through a recent order,(1) the Central Board of Direct Taxes (CBDT) authorised the principal director general of income tax (systems) to share taxpayer information with nodal officers from the Goods and Service Tax Network (GSTN). The order also specified that such information must be provided by way of:
In all of the above cases, the nature of the information to be provided will be decided by the authorities concerned.
The CBDT also confirmed that in order to facilitate the provision of information, it will enter into a memorandum of understanding with the GSTN, which will set out, among other things:
For further information on this topic please contact Pranay Bhatia at BDO in India by telephone (+91 22 3332 1600) or email (firstname.lastname@example.org). The BDO in India website can be accessed at www.bdo.in.
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