S K and Associates : SERVICE TAX

KRISHI KALYAN CESS

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Arun Jaitley while announcing the Budget 2016 has introduced a new cess which would be levied @ 0.5% on the value of all taxable services. This would be <strong style="margin: 0px; padding: 0px; word-wrap: break-word;">levied @ 0.5%</strong> and would be levied over and the above the <a href="http://www.charteredclub.com/what-is-service-tax-and-current-rates-of-service-tax-in-india/" style="color: #235aa6; margin: 0px; outline: 0px; padding: 0px; word-wrap: break-word;" target="_blank">Service Tax and the Swachh Bharat Cess.</a></div>
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The Krishi Kalyan Cess has been levied for the purpose of financing and promoting initiatives to improve agriculture and would be applicable from <strong style="margin: 0px; padding: 0px; word-wrap: break-word;">1<sup style="line-height: 0.5em; margin: 0px; padding: 0px; word-wrap: break-word;">st</sup> June 2016.</strong></div>
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What is Krishi Kalyan Cess</h2>
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A Cess is a Tax that is collected by the government to be used for a specific purpose. The collections from levy of cess can be used only for the purpose for which it has been collected and not for any other purpose.</div>
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Just like Swachh Bharat Cess has been levied for cleanliness, similarly Krishi Kalyan Cess has been introduced for improving agricultural facilities.</div>
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This Cess won’t be levied on your Income but would be levied on all Services on which Service Tax levied. Therefore, from 1st June, the effective rate of service tax would be 15% i.e.</div>
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<tr style="margin: 0px; padding: 0px; word-wrap: break-word;"><td style="margin: 0px; padding: 0px; word-wrap: break-word;"><strong style="margin: 0px; padding: 0px; word-wrap: break-word;">Particulars</strong></td><td style="margin: 0px; padding: 0px; word-wrap: break-word;"><strong style="margin: 0px; padding: 0px; word-wrap: break-word;">Amount</strong></td></tr>
<tr style="margin: 0px; padding: 0px; word-wrap: break-word;"><td style="margin: 0px; padding: 0px; word-wrap: break-word;">Service Tax</td><td style="margin: 0px; padding: 0px; word-wrap: break-word;">14%</td></tr>
<tr style="margin: 0px; padding: 0px; word-wrap: break-word;"><td style="margin: 0px; padding: 0px; word-wrap: break-word;">Swachh Bharat Cess</td><td style="margin: 0px; padding: 0px; word-wrap: break-word;">0.5%</td></tr>
<tr style="margin: 0px; padding: 0px; word-wrap: break-word;"><td style="margin: 0px; padding: 0px; word-wrap: break-word;">Krishi Kalyan Cess</td><td style="margin: 0px; padding: 0px; word-wrap: break-word;">0.5%</td></tr>
<tr style="margin: 0px; padding: 0px; word-wrap: break-word;"><td style="margin: 0px; padding: 0px; word-wrap: break-word;">Total</td><td style="margin: 0px; padding: 0px; word-wrap: break-word;">15%</td></tr>
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This new Krishi Kalyan Cess would be applicable on all your Payments for Services like like Telephone Bill, Internet Bill, <a href="http://www.charteredclub.com/service-tax-on-rent-1/" style="color: #235aa6; margin: 0px; outline: 0px; padding: 0px; word-wrap: break-word;">Rent Payment</a>, <a href="http://www.charteredclub.com/service-tax-on-food-served-in-restaurant/" style="color: #235aa6; margin: 0px; outline: 0px; padding: 0px; word-wrap: break-word;">Restaurant Bill Payment</a>, <a href="http://www.charteredclub.com/service-tax-on-under-construction-property-3-09/" style="color: #235aa6; margin: 0px; outline: 0px; padding: 0px; word-wrap: break-word;">Under Construction Property</a>, <a href="http://www.charteredclub.com/service-tax-on-air-travel-agent-tour-operator/" style="color: #235aa6; margin: 0px; outline: 0px; padding: 0px; word-wrap: break-word;">Air Travel Agent</a>, <a href="http://www.charteredclub.com/service-tax-on-digital-advertising/" style="color: #235aa6; margin: 0px; outline: 0px; padding: 0px; word-wrap: break-word;">Digital Advertisements</a>,  etc. It is to be noted that the Service Provider cannot simply mention 15% Tax on the Invoice and he would be required to mention the break up of the Invoice.</div>
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Krishi Kalyan Cess for Services provided before 1st June</h2>
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Krishi Kalyan Cess is applicable from 1st June 2016. In cases where the services have been provided after 1st June and the payment received after 1st June – Krishi Kalyan Tax would be applicable in all such cases.</div>
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However, in some cases – it may be applicable for services provided before 1st June as well. The following chart explains the cases on which the Krishi Kalyan Cess would be applicable and the cases in which the Krishi Kalyan Cess wont be applicable</div>
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<img alt="Krishi Kalyan Cess 1" class="size-full wp-image-11050 aligncenter" height="150" sizes="(max-width: 612px) 100vw, 612px" src="http://www.charteredclub.com/wp-content/uploads/2016/02/Krishi-Kalyan-Cess-1.png" srcset="http://www.charteredclub.com/wp-content/uploads/2016/02/Krishi-Kalyan-Cess-1-300x74.png 300w, http://www.charteredclub.com/wp-content/uploads/2016/02/Krishi-Kalyan-Cess-1-600x147.png 600w, http://www.charteredclub.com/wp-content/uploads/2016/02/Krishi-Kalyan-Cess-1.png 612w" style="border: 0px; clear: both; display: block; float: none; height: auto; margin: 0px auto 26px; max-width: 100%; padding: 0px; text-align: center; word-wrap: break-word;" width="612" /></div>
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KRISHI KALYAN CESS

Arun Jaitley while announcing the Budget 2016 has introduced a new cess which would be levied @ 0.5% on the value of all taxable services...

Video Presentation: Reverse Charge – POT & Krishi Kalyan Cess

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<span style="background-color: white; font-family: "georgia" , "helvetica" , "arial" , sans-serif; font-size: 13px; line-height: 18.2px;">The Central Government vide Notification No. 21/2016-ST dated March 30, 2016, has amended Rule 7 of the Point of Taxation Rules, 2011 (the POTR) by inserting a proviso after the second proviso, in order to provide Point of Taxation (POT), where there is change in the liability or extent of liability of Service tax to be paid by Service Receiver under Reverse Charge in case service has been provided and the invoice issued before the date of such change, but payment has not been made as on such date, as follows</span><br />
<span style="background-color: white; font-family: "georgia" , "helvetica" , "arial" , sans-serif; font-size: 13px; line-height: 18.2px;"><br /></span>
<span style="background-color: white; font-family: "georgia" , "helvetica" , "arial" , sans-serif; font-size: 13px; line-height: 18.2px;"><a href="https://www.youtube.com/watch?time_continue=21&v=NU5_2iAMy3g" target="_blank">Click hare to view presentation </a></span></div>

Video Presentation: Reverse Charge – POT & Krishi Kalyan Cess

The Central Government vide Notification No. 21/2016-ST dated March 30, 2016, has amended Rule 7 of the Point of Taxation Rules, 2011 (the ...

LATE FEE FOR DELAY IN FILING SERVICE TAX RETURN

If the Service Tax Return is not filed before the due date of filing of Service Tax Return, Late Fee shall be liable to be paid as follows...

SERVICE TAX RETURN

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<span style="background: white; color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt; line-height: 115%;">Dear     Sir/Madam,</span></h2>
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<span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt; line-height: 115%;"><br /></span><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt; line-height: 115%;"><span style="background: white;">Service Tax Return (ST-3) for<span class="apple-converted-space"> </span><span class="aqj">Oct 15</span><span class="apple-converted-space"> </span>to Mar 16 period is now available for
e-filing by the assesses in both offline and online modes. The last date for
filing the returns for the said period is<span class="apple-converted-space"> </span><span class="aqj">25th April, 2016</span>. The assesses can file return online or use
the offline utility by downloading the latest version (V1.5) from<span class="apple-converted-space"> </span></span></span><a href="http://acesdownload.nic.in/" target="_blank"><span style="background: white; color: #1155cc; font-family: "arial" , "sans-serif"; font-size: 9.5pt; line-height: 115%;">http://acesdownload.nic.in/</span></a><span class="apple-converted-space"><span style="background: white; color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt; line-height: 115%;"> </span></span><span style="background: white; color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt; line-height: 115%;">or from DOWNLOADS Section of ACES website.  For details
on how to e-file in ACES or any further information/assistance, you may visit<span class="apple-converted-space"> </span></span><a href="http://www.aces.gov.in/" target="_blank"><span style="background: white; color: #1155cc; font-family: "arial" , "sans-serif"; font-size: 9.5pt; line-height: 115%;">www.aces.gov.in</span></a><span class="apple-converted-space"><span style="background: white; color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt; line-height: 115%;"> </span></span><span style="background: white; color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt; line-height: 115%;">or contact your jurisdictional Service Tax Officer. Please
file your returns in ACES well in advance to avoid rush and inconvenience at
the last moment.</span></h2>
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SERVICE TAX RETURN

Dear Sir/Madam, Service Tax Return (ST-3) for Oct 15 to Mar 16 period is now available for e-filing by the assesses in bot...

S K and Associates

KRISHI KALYAN CESS

Video Presentation: Reverse Charge – POT & Krishi Kalyan Cess

LATE FEE FOR DELAY IN FILING SERVICE TAX RETURN

SERVICE TAX RETURN

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