Practising Cost Accountant. Core area- C
622 Points
Joined February 2008
Krishi Kalyan Cess (KKC) is applicable w.e.f 01.06.2016. Accordingly, it does not affect on Sundry Debtors Balance as on 31.05.2016. KKC is taxable where service tax is applicable.
Secondly, service tax is not related with sundry debtors. Because it is taxable on Revarse Charge Mechanism i.e on expenses, it also not applicable on sale (unrealised appears under Sundry Debtros), All services are not taxable that amount is also shown under Sundry Debtors in balance sheet and so on.