Chapter VI of the Bill (clause 158) proposes to levy Krishi
Kalyan Cess, on any or all the taxable services at the rate of 0.5% of the value of
taxable services with effect from 1st June, 2016.
From 01.06.2016, a cess known as “Krishi Kalyan Cess” (in short KKC) shall be levied as service tax on all or any of the taxable services @ 0.5% of the value of services.
From 01.06.2016, a cess known as “Krishi Kalyan Cess” (in short KKC) shall be levied as service tax on all or any of the taxable services @ 0.5% of the value of services.
KKC shall be in addition to any other cess or service tax leviable on taxable services.
Credit of KKC paid on input services shall be allowed to be used for payment of KKC on output services rendered by the service provider. For this purpose the Government will amend CENVAT Credit Rules in due course.
Krishi Kalyan Cess to be shown separately.
| SERVICE | SERVICE TAX @ 14 % | S.B.CESS @ 0.50 % | Krishi Kalyan Cess @ 0.50% | TOTAL SERVICE TAX 15% |
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