Delhi govt, CBEC agree to exchange data on imports

The Delhi government today entered into an agreement with the Central Board of Excise and Customs for exchange of data related to imports aimed at detecting discrepancies in the current information sharing structure.
The Department of Trade and Taxes signed a Memorandum of Understanding (MOU) with the Central body. Undeclared imports were leading to tax evasion and financial loss to the government, Commissioner, Trade and Taxes S S Yadav said.
Yadav said analysis of last two years data has revealed that a number of dealers importing goods have not declared the imports in their returns submitted to the department.
"It has also been noticed that a number of unregistered dealers are also importing goods and selling in Delhi without paying the due tax," he said.

As per the MOU, Excise and Customs will share the data of import of goods from outside the country to Delhi while the department of Trade and Taxes will share the data of imports shown by the registered dealers in their returns with Customs Department.