Levy of Krishi Kalyan Cess

Posted by Economic Laws Practice (ELP) on 2 June 2016 in Tax (indirect & direct)

Krishi Kalyan Cess of 0.5% has been recently introduced in Service tax and the effective rate of tax is now 15%.

Please find enclosed our alert on various aspects of Krishi Kalyan Cess.

ELP-Tax-Alert---Levy-of-Krishi-Kalyan-Cess.pdf

We trust you will find this an interesting read. If you have any queries, please do write to us.

Should you have any questions, feel free to reach out to us.

- ELP Tax Team

Comments

Assessee 3 Jun 2016, 15:52

+0 -0

Good analysis. However, can you please explain the basis for applying Rule 7 instead of Rule 5 in case of new levy (read KKC) for reverse charge? Why would Rule 5 not apply to reverse charge services? Does Rule 7 cover new levy (KKC) within its scope?

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