Krishi Kalyan Cess to make eating out, mobile bills costlier

People will now have to pay an additional 0.5 percent tax

GN Bureau | June 1, 2016


#taxable services   #cess   #budget   #Arun Jaitley   #Swachh Bharat Cess   #service tax  


 June 1 onwards, people will have to pay an addition 0.5 percent tax whenever they go out to dine or buy a movie ticket.

The Krishi Kalyan Cess, announced by finance minister Arun Jaitley in his budget speech earlier this year, will make services such as air and rail travel, mobile bills, restaurant and hotel bills, insurance, healthcare and banking services, among others to be costlier. The move was made to improve agricultural development in the country. 

 
The cess would be levied on all taxable services. After the introduction of Swachh Bharat Cess of 0.5 percent last year and with the present service tax of 14 percent, people would now have to pay a total of 15 percent tax on services. The government aims to collect Rs 5,000 crore during the remaining 10 months of the current fiscal through this cess.
 

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