KRISHI KALYAN CESS - MINISTRY FINALLY UNDERSTOOD THEIR MISTAKE

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The Central Government has issued notification No. 35/2016 dated 23rd June, 2016, hereby exempts taxable services with respect to which the invoice for the service has been issued on or before the 31st May, 2016, from the whole of Krishi Kalyan Cess leviable thereon, subject to condition that the provision of service has been completed on or before the 31st May, 2016.

Earlier to this notification, All service provider are bound to collect 0.5% KKC from the service receiver on outstanding payment as on 1st June 2016, though service is rendered before 1st June 2016. This unwarranted amendment has brought great havoc among business people. Because most of the service receiver is not willing to pay the extra cess and it goes as cost to the profit & loss account of service provider.

Anyway, thanks for most welcoming notification after the delay of 22days.

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