Accounting Codes for Krishi Kalyan Cess
[Service Tax Circular No. 194 dated
26th May 2016]
Subject: Accounting
code for payment of Krishi Kalyan
Cess.
Chapter VI of the Finance Act, 2016 will
come into effect from 1st June, 2016. Krishi Kalyan Cess 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%.
2. 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 as under:
|
S.No. |
Krishi Kalyan
Cess (Minor Head) |
Tax
Collection |
Other
Receipts (Interest) |
Deduct
Refunds |
Penalties |
|
1 |
0044-00-507 |
00441509 |
00441510 |
00441511 |
00441512 |
3. All
concerned are requested to acknowledge the receipt of this circular.
4. Trade
Notice/ Public Notice to be issued. Wide publicity through local news media including
vernacular press may be given.
F.No.
354/31/2016-TRU