Key Topics:
- INTERNATIONAL TAXATION
- DIRECT TAX
- GST
Key Topics:
By this time, the entire trade has understood the concept of inter and intra state supplies and happily charging the applicable taxes. Needless to say, if a supply is an intra-state, Central Goods & Services Tax (CT) and State Goods & Services Tax (ST) shall be applicable and if the supply is inter-state, then integrated tax (IT) shall be applicable. Arithmetically, IT is nothing but a summation of CT and ST.
There are sections which determines the nature of supply as inter and intra. Section 7 of Integrated Goods
In similar way, Section 8 of IGST Act deals with intra-state supply, where in it states, if the location of supplier and place of supply are in the same state or union territory then such supplies shall be treated as intra-state supplies. Further, Section 8 also lays down certain specific instances, where in such transactions are not to be treated as intra-state supply.
Sec 268A of the Income-tax Act (‘IT Act’) empowers Central Board of Direct Taxes (‘CBDT’) to issue instructions, orders/ directions to the income-tax authorities for fixing monetary limits as it deem fit for regulating filing of appeal by any income-tax authority.
These instructions have to be complied with by income-tax authorities in the matters of filing of appeal before ITAT/High Court/Supreme Court.
In this article attempt has been made to compare the instruction issued under Section 268A in last four occasions in the years- 2018/2015/2014/2011.
The appeals/SLP should not be filed by the income-tax authority unless tax effect exceed monetary limits mentioned. These limits are not applicable to writ matters/Section 12A registration and direct tax matters other than income-tax.
Read more: Filing of Appeal by the Income Tax Department - Latest
Background - Rule 10CB of the Income-tax Rules, 1962 (‘the Rules’) was inserted vide Notification No. GSR 590(E) dated 15th June, 2017. Under sub-rule (1) of the said rule 10CB, a uniform time limit of 90 days, starting from different dates, is prescribed for repatriation of excess money. This is done in order to provide uniform treatment in respect of the different types/situations of primary adjustments specified under sub-section (1) of section 92CE.