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Accounting code for payment of KKC

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 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%. Accordingly, accounting codes have also been allotted by the Office of the Controller General of Accounts for the new Minor Head “507-Krishi Kalyan Cess” and new Sub-heads, for payment of KKC, as under:

Krishi Kalyan Cess (Minor Head) : 0044-00-507

Tax Collection : 00441509

Other Receipts (Interest) : 00441510

Deduct Refunds : 00441511

Penalties : 00441512

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