Accounting code for payment of KKC notified by CBEC The CBEC vide Circular No. 194/04/2016-ST dt. 26 May 2016 has notified “Accounting code for payment of KKC” by the assessees, as under: Chapter VI of the Finance Act, 2015 is effective from 1st June, 2016, i.e. KKC is leviable on all taxable services, other than services […]
Continue ReadingHistory of Service Tax Rates History of Service Tax Rates since 01-07-1994 till date… From TO Rate EC on ST SHEC on ST SBC on Service Value KKC on Service Value Effective Rate 01-07-1994 13-05-2003 5% 0 0 0 0 5% 14-05-2003 09-09-2004 8% 0 0 0 […]
Continue ReadingKrishi Kalyan Cess (KKC) @ 0.5% introduced (from 1st June 2016) It is the time to face new cess named as Krishi Kalyan Cess (KKC) @0.5% on the value of all taxable services as introduced by Budget 2016 w.e.f 1st June 2016. Many of us have some questions about introduction of this new cess. In […]
Continue ReadingWe have received many queries regarding Calculation of Service tax on Works Contract Service. Here in this blog, a short summary for service tax on works contract is given: W.e.f 01-07-2012, All services are taxable except services in negative list and exemption list. To remove doubt a list of declared service is given which are […]
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