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    Budget speech by Arun Jaitley – In order to incentivize creation of new jobs in the formal sector, Government of India will pay the Employee Pension scheme contribution of 8.33% for all new employees enrolling in EPFO or the first three years of their employment. This will incentivize the employers to recruit unemployed persons and also to bring into books the informal employees. In order to channelize this intervention towards the target group of semi-skilled and unskilled workers, the Scheme will be applicable to those with salary up to `15,000 per month. I have made a budget provision of `1,000 crore for this scheme. 

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    INTRODUCTION 

    Depreciation in normal parlance refers to decrease in value of Asset due to 

    • WearandTear i.e. Usage
    • Effluxionof Time.
    • Obsolescence i.e. Technological changes 

    Depreciation is one of the allowable deduction from income under Business or profession.

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    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 

    • Services Tax Act, 17 (IGST Act) deals with the inter-state supply, where in it states, if the location of supplier and place of supply are in two different states, two different union territories and a state and a union territory, then such supply is to be treated as inter-state supply. Apart from the above, the section also lays down specific transactions which are to be treated as inter-state supply, which we shall discuss in the later part of this article.

    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. 

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    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. 

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