Seeks to exempt such taxable services from whole of Krishi Kalyan Cess leviable thereon which are either exempt from the whole of service tax by a notification or otherwise not leviable to service tax. Further, the notification seeks to provide that abatement notification shall be applicable for computing Krishi Kalyan Cess NOTIFICATION NO.28/2016-ST, DATED 26-5-2016… Read More »
Seeks to inter alia provide composition rate for Krishi Kalyan Cess as applicable to ST under sub-rules 7,7A,7B,7C of rule 6 of STR, 1994 SERVICE TAX (THIRD AMENDMENT) RULES, 2016 – AMENDMENT IN RULE 6 NOTIFICATION NO.31/2016-ST, DATED 26-5-2016 In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94… Read More »
Seeks to amend notification No. 12/2013- ST, dated the 1st July, 2013 so as to inter alia allow refund of Krishi Kalyan Cess paid on specified services used in an SEZ. NOTIFICATION NO.30/2016-ST, DATED 26-5-2016 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994),… Read More »
NOTIFICATION NO.28/2016-ST DATED 26-5-2016 In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) read with sub-section (5) of section 161 of the Finance Act, 2016 (28 of 2016), the Central Government, being satisfied that it is necessary in the public interest so to do,… Read More »
NOTIFICATION NO.27/2016-ST DATED 26-5-2016 In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994) read with sub-section (5) of section 161 of the Finance Act, 2016 (28 of 2016), the Central Government, being satisfied that it is necessary in the public interest so to do,… Read More »
Krishi Kalyan Cess Accounting code notified by Govt as per Following Circular : 507-Krishi Kalyan Cess Circular No. 194/04/2016-ST F. No. 354/31/2016-TRU Government of India Ministry of Finance Department of Revenue (Tax Research Unit) *** Dated the 26th May, 2016. To Principal Chief Commissioners of Customs and Central Excise(All) Principal Chief Commissioners of Central Excise &… Read More »
Clarification w.r.t. exemption for services provided by Government or a local authority to a business entity Central Government vide Notification No. 07/2016-ST had inserted a new entry no. 48 in the Mega Exemption Notification that ‘any services provided by Government or a local authority to a business entity with a turnover up to rupees ten lakh… Read More »
Payment of Service Tax (After Finance Act 2016 Amendment w.e.f 01.04.2016) Read Also Finance Act 2016 Notified by Indian Govt Date of Payment of Service Tax by HUF / One Person Company w.e.f. 1-4-2016 ,Rule 6 of the Service Tax Rules, 1994 is being amended by Finance Act 2016 to extend the benefit of quarterly payment… Read More »
Service Tax on educational services (After Finance Act 2016) Service tax is Payable on Educational Services except when they are specifically covered in the Mega Exemption list vide NOTIFICATION NO.25/2012-ST as amended from time to time or covered in the negative list of services Mega Exemption from Service Tax on educational services or when services are relating to… Read More »
KRISHI KALYAN CESS Salient Features of Krishi Kalyan Cess Krishi Kalyan Cess, imposed by Finance Act 2016 by inserting new Chapter-VI Krishi Kalyan Cess, @ 0.5% on all taxable services, Krishi Kalyan Cess will come into force w.e.f 01.06.2016 Input Tax credit of Krishi Kalyan Cess will be available for payment of this cess Krishi Kalyan… Read More »