New Secondary and Higher education Cess does not apply to all business!?

[Former Member]

Hi,

I know that for New Secondary and Higher education Cess we need to apply OSS Note (1032554 - Secondary and Higher Education Cess on Income Tax) as per the new legal change in India, an additional surcharge has been introduced for purposes of the Union, to be called the #Secondary and Higher Education Cess on income-tax#, calculated at the rate of one per cent.

I think this new cess is applicable across all industries.But, got feed back from client (project) that it does not apply to their business (Import and Trading) and this new cess can be rejected during passing the budget as bill.

Could you let me know reasonable justification to implement this oss notes?

Thanks in advance

S.

[Former Member · Accepted solution]

Hi,

Please go thru the following link specially the clause 129. May be helpful. It speaks of imports.

http://indiabudget.nic.in/ub2007-08/fb/bill6.pdf

Regards

A

[Former Member]

Hi Sridevi

The possibility of the bill getting rejected is very less or NIL.

Thanks

Ashok

Assign points for useful answer

[Former Member]

Hi Sridevi,

Let me know ur email id.. i have some SAP notes related information which i can send across

Thanks

Janani

award points if helpful

[Former Member]

hai can u send me venramki79@gmail.com so we are planning to implement that 1% cess extra