Krishi Kalyan Cess

[Asked by Guest]

Dear Sir/ Madam,

We would like to understand that the Notification related to KKC has been released from the Government or not yet. If not yet, is there any expected date to be released. As you all aware of that KKC is effective from 1st June 2016 so we need to make our system setting based on this new change but SAP is looking for Government notification which they can refer for the solution and release the SAP Note related to KKC solution.

In case it is getting delay in release the notification from Government then, is there any effective date change with future date?

Thanks in Advance for quick reply.

Regards,

Gunasekhar Bollineni

+91-9986037850

AI Summary

Krishi Kalyan Cess: effective from 1 June 2016; update accounting systems now despite pending notification.
Krishi Kalyan Cess has been enacted in the Finance Bill with an effective date of 1 June 2016; this statutory effective date stands regardless of the timing of any administrative notification. In practice, taxpayers and ERP vendors are advised to prepare accounting codes and system changes to apply the cess from the effective date even though formal notification and specific accounting code assignments may be issued subsequently, and primary government portals provide the legislative text for verification.