Service Tax - Krishi Kalyan Cess - On All Taxable Services - Code Allotted
THE CBEC clarifies that Krishi Kalyan Cess is leviable on all taxable services, other than services which are fully exempt from Service Tax or services which are otherwise not liable to Service Tax under section 66B of the Finance Act, 1994, at the rate of 0.5%.
But, can the Board decide that the KKC is leviable on "all" taxable services excepting the exceptions OR should an exemption notification be issued?
Please see .
Accounting codes have been allotted by the Office of the Controller General of Accounts for the new Minor Head "507-Krishi Kalyan Cess" and new Sub-heads as:
Krishi Kalyan Cess | Tax Collection | Other Receipts | Deduct Refunds | Penalties |
|---|---|---|---|---|
0044-00-507 | 00441509 | 00441510 | 00441511 | 00441512 |
This Circular issued by CBEC has 5 paras and Para No.3 is missing. Is it the usual casualness in drafting or is the para really missing?Will Board clarify?
CBEC Circular No. 194/04/2016-ST., Dated: May 26, 2016