Krishi kalyan cess
This query is : Resolved
31 May 2016
Dear Experts,
Please let us know the applicability of KKC @0.5% on :1.open invoices( service provided & invoices issued before 1st June 2016 but money not yer received from Debtors) 2: Service provided before 1st June but invoice not yet raised 3: Advance received from debtors but service n invoice not yet issued.
Please let us know the applicability of KKC @0.5% on :1.open invoices( service provided & invoices issued before 1st June 2016 but money not yer received from Debtors) 2: Service provided before 1st June but invoice not yet raised 3: Advance received from debtors but service n invoice not yet issued.
Rupesh Jain
(Expert)
31 May 2016
KKC only exemption two situation :
Rule 5 of the POTR covers two specific situations where new levy shall NOTbe payable:
Invoice issued and payment received against such invoice before such service becomes taxable;
Payment received before the service becomes taxable and invoice has been issued within 14 days of the date when the service is taxed for the first time
- See more at: https://taxguru.in/service-tax/krishi-kalyan-cess-applicability-open-issues.html#sthash.1NSlF8ZL.dpuf
Rule 5 of the POTR covers two specific situations where new levy shall NOTbe payable:
Invoice issued and payment received against such invoice before such service becomes taxable;
Payment received before the service becomes taxable and invoice has been issued within 14 days of the date when the service is taxed for the first time
- See more at: https://taxguru.in/service-tax/krishi-kalyan-cess-applicability-open-issues.html#sthash.1NSlF8ZL.dpuf
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