Finance Minister while presenting the Budget 2016 introduced new cess called "Krishi kalyan Cess''. This cess will be lived on all taxable services & would be levied @ 0.5% of the total value of Services. This cess will be levied over & above Service tax & Swachh Bharat Cess.
Note: The cess will be applicable from 1st June 2016. Hence the effective rate of tax will be 15%.
Note: The cess will be applicable from 1st June 2016. Hence the effective rate of tax will be 15%.
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