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INTERVIEW QUESTIONS
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KRISHI KALYAN CESS
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Question: Where can I find legal provisions for Krishi Kalyan Cess (KKC)?
Answer: Krishi Kalyan Cess (KKC) was announced in the Union Budget, 2016-17. A legal provision was made through the Finance Bill, 2016 (Chapter VI, clause 158) for levying the Cess.
In fact, Finance Bill defines KKC as a service tax on all or any of the taxable services at the rate of 0.5 percent on the value of such services for the purposes of financing and promoting initiatives to improve agriculture or for any other purpose relating thereto.
The legal provisions related to service tax including those relating to refunds and exemptions from tax, interest and imposition of penalty shall, as far as may be, apply in relation to the levy and collection of the Krishi Kalyan Cess.
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Question:
Where can I find legal provisions for Krishi Kalyan Cess (KKC)?
Answer:
Krishi Kalyan Cess (KKC) was announced in the Union Budget, 2016-17. A legal provision was made through the Finance Bill, 2016 (Chapter VI, clause 158) for levying the Cess.
In fact, Finance Bill defines KKC as a service tax on all or any of the taxable services at the rate of 0.5 percent on the value of such services for the purposes of financing and promoting initiatives to improve agriculture or for any other purpose relating thereto.
The legal provisions related to service tax including those relating to refunds and exemptions from tax, interest and imposition of penalty shall, as far as may be, apply in relation to the levy and collection of the Krishi Kalyan Cess. Source: CoolInterview.com
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From Which Date Krishi Kalyan Cess(KKC) is applicable?
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