Skip to Content
Former Member
Jun 09, 2016 at 11:59 AM

How to calculate KKC for Customer balance on Basic value + taxes as on 31st May 2016


Hi Experts,

The Government of India has announced addition of 0.5% Krishi Kalyan Cess, on transactions which attract service tax. This tax is applicable for all transactions w.e.f.1st June 2016. But government has also levied this tax on all amounts which are still unpaid by the customers. So if a the customer

has not paid the bills, for transactions prior to 1st June 2016 he will have to pay KKC on the outstanding amount.

There are a number of customer open items as on 31st May 2015.

The information is required to calculate the liability of KKC. The customer outstanding consist of Base Value + Service Tax + Swachha Bharat Cess etc. Etc.

We need help regarding

1. How to calculate only the basic amount for calculating KKC?

2. Also how to calculate break of open debits as Basic Value + VAT / Service Tax + Cess and so on.