Krishi Kalyan Cess(KKC) is applicable on services at 0.5% from 1 June 2016 which is introduced in budget 2016. It increased the rate of service tax as below
Service tax- 14%
Swacch Bharat Cess(SBC)- 0.5%
Krishi Kalyan Cess(KKC)- 0.5%
Total Service Tax -15%
So the calculation of service tax is changed as no input tax of Swacch Bharat Cess is allowed to MODVAT but Krishi Kalyan Cess modvat is allowed only to pay Krishi Klayan Cess.
All about Krishi Kalyan Cess on services
So there is an excel based calculator for calculating service tax after krishi kalyan cess introduced.The features of this calculator are as follows.
- This is an excel based calculator.
- Both input tax as well as invoice tax calculation done separately.
- Use online as well as offline.
Download excel based service tax calculator after KKC
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The Calculation sheet is ok but would have been better if it would also consider the exemptions part of services
ReplyDeleteThe PRADHAN SEVAK is supposed to be doin the Janta SERVICE...then Y is this "SERVICE TAX" charged?
ReplyDeleteJust so that the PS can LOOT us?
More expensive models include larger memory, more cash flows, and more functions.guarantor loans
ReplyDelete