Wednesday, 1 June 2016

Point of Taxation for New Levy of Krishi Kalyan Cess(KKC)

Government is seeking to impose KKC in cases, where the invoice and provision of service has taken place prior to June 1, 2016, however payment is not received till June 1, 2016. This would imply that on all debtors as on May 31, 2016, assesses will be liable to pay KKC. KKC would be payable in case liability to pay Service tax is on service provider but under similar situation KKC would not be payable when liability to pay Service tax is on the service recipient under reverse charge.
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