R & d cess tax

Originally posted by : YASH MEHTA
	Dear All, Please reply to my following query: What is Research & Development Cess Tax ? When is it applicable?? Thanks in advance Regards, Yash Mehta

Research & Development Cess is paid on Import of Technology in India in terms of any foreign collaboration agreement and can be claimed as credit for payment under Service Tax.
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If R&D cess is paid, service tax payable is reduced to that extent, which is subject to some conditions. You can refer Notification No. 14/2012-ST dated 17-3-2012.

Thank you Mr. Deepak for your early reply.