Why does the gov collects tax as SBC and Kristi kalyan instead of directly charging 15 percent as basic charge
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Service tax
Replies (8)
cess is meant to be used specifically for the specified purpose. like sbc is meant to be used for swachh bharat and similarly for kkc. In general taxes are distinctly collected so as to bifurcate the revenue of central govt and state govt
yes sir i am also go with Rucha.
But instead of charging each thing seperatly can't amount be allocated in budget to SBC and Kristi kalyan and my other doubt is why credit is allowed only for kkc and not sbc
simply because it is specified in the notification. however, government issues such notifications based on severity of subject matter. there can be other criterias too.
Ok while accounting for kkc it's like
Kkc output dr
To kkc input
To payable
But how to account for sbc no credit available can we book it as expense
Venkat Sir,
SBC: SBC has been imposed for the purpose of financing and promoting of Swachh Bharat initiatives by Government.
KKC: KKC is Cess which shall be levied and collected in accordance with the Provision of Chaper VI of the Finance Act 2015.
SBC is not integrated in the Cenvat Credit chain. Therefore SBC cannot be availed.
Sir can u explain accounting for sbc
Ok can we account sbc ad expense please tell how to account it I am confused
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