Accounting Code for Krishi Kalyan Cess Payment
Circular No. 194/04/2016-ST
F. No. 354/31/2016-TRU
Government of India
Ministry of Finance
Department of Revenue
(Tax Research Unit)
Dated the 26th May, 2016.
To
Principal Chief Commissioners of Customs and Central Excise(All)
Principal Chief Commissioners of Central Excise & Service Tax (All)
Principal Director Generals of Goods and Service Tax/System/CEI
Director General of Audit/Tax Payer Services,
Principal Commissioners/ Commissioners of Customs and Central Excise (All)
Principal Commissioners/Commissioners of Central Excise and Service Tax (All)
Principal Commissioners/Commissioners of Service Tax (All)
Principal Commissioners/Commissioners LTU/Central excise/Service Tax (Audit)
Madam/Sir,
Subject: Accounting code for payment of Krishi Kalyan Cess – regarding.
Chapter VI of the Finance Act, 2015 will come into effect from 1st June, 2016. Krishi Kalyan Cess is leviable on all taxable services, other than services which are fully exempt from Service Tax or services which are otherwise not liable to Service Tax under section 66B of the Finance Act, 1994, at the rate of 0.5%.
2. Accordingly, accounting codes have also been allotted by the Office of the Controller General of Accounts for the new Minor Head “507-Krishi Kalyan Cess” and new Sub-heads as under:
| S.No | Krishi Kalyan Cess (Minor Head) |
Tax Collection | Other Reciepts (Interest) | Deduct Refund | Penalties |
| 1 | 0044-00-507 | 00441509 | 00441510 | 00441511 | 00441512 |
S.No . Krishi Kalyan Cess (Minor Head) Tax Collection Other Reciepts (Interest) Deduct Refunds Penalties 1 0044-00-507 00441509 00441510 00441511 00441512
4. All concerned are requested to acknowledge the receipt of this circular.
5. Trade Notice/ Public Notice to be issued. Wide publicity through local news media including vernacular press may be given. Hindi version shall follow. Yours faithfully, (Abhishek Chandra Gupta) Technical Officer (TRU)
Updated list of banks authorised by Reserve Bank of India to import only gold for FY 2025-26 with effect from…
Under percentage completion method, selling/Admin costs are allowable despite no revenue declared as per guidance note of ICAI. In a…
AO cannot use reverse computation of gross payment using TDS amount to determine the amount disallowable u/s 40(a)(ia) - ITAT…
Once loans were repaid in subsequent assessment years with cogent evidences then the addition u/s 68 of the Income Tax…
Viksit Bharat Guarantee for Rozgar & Ajeevika Mission (Gramin), In short VB-GRAM-G notified Government has notified Viksit Bharat Guarantee for…
Once PCIT restores assessment to AO for denovo consideration, AO is obliged to independently apply mind without influenced by the…