As indicated, Krishi Kalyan Cess (KKC) introduced in the recent Union Budget would be effective from 1st June 2016 on all invoices raised subsequent to 1st June 2016.
However, basis an amendments made in recent Finance Act, it appears that even respect of sale Invoices (Service tax involved cases) raised prior to 1st June 2016, if the payments for such invoices are not collected on or before 31st May 2016, such invoices shall also be subject to of KKC.
Due to this notification, the effective rate of service tax has increased from 14.50% to 15.00% (inclusive of Swachh Bharat Cess and Krishi Kalyan Cess).
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