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Monday, February 29, 2016

Budget 2016 - Additional 5% tax on all taxable services under Krishi Kalyan Tax for benefit of farming community

 The finance minister Arun Jaitley announced an additional five per cent tax on all taxable services under the new Krishi Kalyan Tax aimed at benefiting the farming community.

This tax will be over and above the service tax already levied on services.

However, the finance minister did not explain the channel or area for usage of the corpus collected under this scheme. 

 
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