https://www.taxtmi.com/article/detailed?id=6823 Introduction of the Krishi Kalyan Cess (KKC) from 1 June 2016 imposes an additional cess on all taxable services, increasing the combined service tax burden; KKC proceeds are to be credited to the Consolidated Fund and existing provisions for levy, collection, refunds, exemptions, interest and penalties are to apply as far as may be. Cenvat credit of KKC on input services is to be allowed for payment of the cess on output services, pending corresponding amendments to the Cenvat Credit Rules. The note sets out comparative effective-rate effects across abatement, reverse charge and valuation rules. en-us Tue, 17 May 2016 11:15:56 +0530 Tue, 17 May 2016 13:08:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6823 Introduction of the Krishi Kalyan Cess (KKC) from 1 June 2016 imposes an additional cess on all taxable services, increasing the combined service tax burden; KKC proceeds are to be credited to the Consolidated Fund and existing provisions for levy, collection, refunds, exemptions, interest and penalties are to apply as far as may be. Cenvat credit of KKC on input services is to be allowed for payment of the cess on output services, pending corresponding amendments to the Cenvat Credit Rules. The note sets out comparative effective-rate effects across abatement, reverse charge and valuation rules. Articles Service Tax Tue, 17 May 2016 11:15:56 +0530 https://www.taxtmi.com/article/detailed?id=6823