Attention Entrepreneurs! New Service Tax rate from 1st June 2016
In order to improve agriculture and farmer welfare, the Government has announced a new cess namely ‘Krishi Kalyan Cess’ (“KKC”), to be levied at 0.5% on the value of all taxable services w.e.f June 1, 2016.
With the introduction of KKC the effective rate of Service Tax would be 15% from 1st June, 2016.
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