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No KKC if invoice is raised and services are rendered on or before May 31, 2016

Service Tax - By: - Bimal jain - Dated:- 25-6-2016 - Dear Professional Colleague, Pursuing with an objective to finance and promote initiatives to improve agriculture and farmer welfare, the Government announced a new cess namely Krishi Kalyan Cess ( .....

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on Rules, 2011 ( the POTR ), inserted w.e.f March 1, 2016, provides that point of taxation in case of new levy on services shall be governed by Rule 5 of the POTR and new levy or tax shall be payable on all cases other than the following two specific .....

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within 14 days of the date when the service is taxed for the first time Thus, as per the Rule 5 read with explanations, only in two situations (mentioned above), the KKC shall not be payable and in all others, KKC is to be paid. With the Service tax .....

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or without raising of corresponding invoices, but payment for the same is not received till June 1, 2016. The explanations added to Rule 5 of the POTR raised a fundamental question as to whether a service which has already been provided prior to int .....

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cesses. Now, the Central Government vide Notification No. 35/2016-ST dated June 23, 2016, has exempted taxable services with respect to which the invoice for the service has been issued on or before May 31, 2016, from the whole of KKC leviable thereo .....

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nder GST: The Central Government has finally brought clarification for levy of KKC when invoice is raised and provision of service has been completed on or before May 31, 2016. But under the Goods and Services Tax ( GST ), taxable event would be supp .....

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earliest of the following: S. No. Situation Time of supply 1. Invoice issued within prescribed period Date of issue of invoice or Date of Receipt of payment Whichever is earlier 2. Invoice not issued within prescribed period Date of completion of the .....

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