31 May 2016
Dear Experts, Please let us know the applicability of KKC @0.5% on :1.open invoices( service provided & invoices issued before 1st June 2016 but money not yer received from Debtors) 2: Service provided before 1st June but invoice not yet raised 3: Advance received from debtors but service n invoice not yet issued.
31 May 2016
KKC only exemption two situation : Rule 5 of the POTR covers two specific situations where new levy shall NOTbe payable:
Invoice issued and payment received against such invoice before such service becomes taxable; Payment received before the service becomes taxable and invoice has been issued within 14 days of the date when the service is taxed for the first time - See more at: http://taxguru.in/service-tax/krishi-kalyan-cess-applicability-open-issues.html#sthash.1NSlF8ZL.dpuf