EN 
Government of Kerala has decided to levy and collect Cess in the name of Kerala Flood Cess (KFC) with effect from 1st August, 2019 vide notification # S. R. O. No. 436/2019 dated 29th June 2019. Ambiguity regarding whether to charge GST on KFC is also now cleared by a notification # 31/2019-Central Tax dated 28th June, 2019 issued by CBITC. A new CGST rule 32A is inserted wef 1st July 2019, whereby there is no need to charge GST on KFC. illustration : Value of goods is Rs 12,500/- GST Rate - 18% KFC - 1% Total Value of goods 12,500.00 Taxable Value 12,500.00 CGST @ 9% 1,125.00 SGST @ 9% 1,125.00 KFC @ 1% 125.00 Invoice Value 14,875.00
Leave a Reply
Your email address will not be published. Required fields are marked *