Is Cenvat Credit available for Krishi Kalyan Cess?

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  1. sabeer

    sabeer New Member

    is cenvat credit available on krishi kalyan cess
     
  2. Chandrashekar M

    Chandrashekar M Active Member

    ‘Krishi Kalyan Cess’ though said to be Cenvatable, but appropriate amendments also required in the Cenvat Credit Rules, 2004

    Unlike Swachh Bhara Cess imposed w.e.f. June 15, 2015, which is not Cenvatable neither in the hands of service providers nor manufacturers, in terms of TRU F.No. 334/8/2016-TRU dated February 29, 2016 [Para 3.1], it is provided that Cenvat credit of Krishi Kalyan Cesspaid on input services shall be allowed to be used for payment of the proposed Cess on the service provided by a service provider.

    However, corresponding to such entitlement of Cenvat credit of Krishi Kalyan Cess as stated in the TRU letter, changes are yet to be incorporated in Rule 3 of the Cenvat Credit Rules, 2004 to provide requisite legal backing for availment of Cenvat credit.

    Regards
    Chandrashekar
    http://incometaxdoubts.wordpress.com
     
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