Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, the 12th of February, 2018
NOTIFICATION
In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of Section 138 of the Income-tax Act, 1961, the Central Government, hereby specifies Chief Executive Officer, Government e Marketplace (GeM) for purposes of the said clause. This Notification has to be read with order under section 138(1 )(a) of Income tax Act, 1961 dated 12.02.2018 in file of even number, issued by the Central Board of Direct Taxes, notifying Principal Director General of Income-tax (Systems) as the ‘designated authority’ for furnishing information to the authority being notified.
F.No. 225/61/2018/ITA.II .
Government of India
Ministry of Finance
Dep artment of Revenue [CBDT)
North Block, New Delhi, the 12’· of February, 2018
In exe rcise of powers conferr ed und er section 138(1)[a) of Income tax Act, 1961 [“Act’), the Central Board of Direct taxes hereby dir ects that Principal Director General of Income-tax [Systems), NewDelhi (Pr. DGIT[Systems)) shall be the specified authority for furnishing the information to the Chief Executive Officer, Government e Marketplace [GeM) as notified vide Notification No /2018 date d …………•under sub-clause (ii) of clause (a) ofsub-section (1) ofsection 138 of the Act.
2. Following information regarding entities seeking registration with GeM as sellers shall be furnished:
i. Pan data in respect of seller:
ii. Latest available three years’ Bala nce Sheet ofthe sellers;
iii. Key Director’s details related to the sellers; and
iv, Any further information considered necessary for verification of a ntecedents of the sellers (to be decided on basis of mutual consultation be tween Pro DGIT[Systems) & GeM)
On the basis of mutual consultations between the two authorities, the informatio n being provided by income-tax department on any of the above parameters can also be in form of online verification by GeM portal for which necessary system enablment would be provided by Pro DGIT(Systems). However, information being shared under section 138 of the Act by the Income-tax Department with GeMshall be us ed only for its internal purposes & not shared/passed on to other institution/agency.
3. To facilitate the process of furnishing information , Pr DGIT (Systems) would enter into a Memorandum of Understanding (MoU) with GeM which inter -ala, would include the mode of transfer of data, maintenance of confidentiality, mechanism for safe preservation of data, weeding it out after usage etc. The frequency and time line for furnishing information shall be decided by ProDGIT(Systems) in consultation with GeM and included in the said Moll.
4. A copy of the MoU shall be forwarded to this division for record purposes.