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.
 

Comments

 

Other News

Bhutan’s pursuit of happiness, shortage of health sub-centres in UP, and role of digitisation in IGNOU

In many ways the story of Gross National Happiness in a country is the story of Bhutan and its modern history. There are two major transition points in Bhutan’s recent history, the beginning of the monarchy in 1907, and the transition to a Constitutional monarchy in 2008, and the pursuit of happine

Do you agree with the ban on the sale of cattle for slaughter through animal markets?

Do you agree with the ban on the sale of cattle for slaughter through animal markets?

Modi inaugurates India’s longest bridge in Assam

  Prime minister Narendra Modi celebrated three-year of his government on May 26 by inaugurating Dhola-Sadiya bridge over the Brahmaputra river in Assam’s Tinsukia district. It is the longest bridge in India, which runs 9.15 km from end to end and connects Assam with Arunachal Pradesh.

IndianOil registers highest ever profit of Rs 19,106 crore

 IndianOil posted a net profit of Rs 19,106 crore for 2016-17 fiscal as compared to a profit of Rs 11,242 crore in the last fiscal. The income from operations for the financial year 2016-17 was Rs 4,45,373 crore as compared to Rs 4,06,828 crore in the previous fiscal. IndianOil`s income from

Maiden flight of HAL’s light utility helicopter

 Hindustan Aeronautics Limited (HAL) carried out first flight of light utility helicopter (LUH)-PT-2 on May 22 at its Bengaluru-based facility. The flight duration was about 22 minutes and pilots reported nil snag, HAL said.   “These maiden flights of indig

The rise and rise of muscular nationalism

 Narendra Modi is like Greek mythology’s King Midas: whatever he touches turns into gold. Most people in this country are left dazzled by his ability to make dramatic announcements with a statuesque flourish.   The past three years of the Modi government have left the



Video

सुषमा ने किया देश की बेटी का स्वागत

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter