Custom Duty : Should Cess and Surcharge Be Permanent? Explore the history and purpose of Cess and its impact on taxes and duties....
Income Tax : Clarification regarding treatment of cess and surcharge Section 40 of the Act specifies the amounts which shall not be deducted in...
Goods and Services Tax : SoP for filing Kerala Flood Cess Return and Payment of Flood Cess • For filing of Kerala Flood Cess return and payment of Kerala...
Goods and Services Tax : In August 2018, the State of Kerala faced a devastating flood due to high rainfall which was the worst flood in nearly a century. ...
Goods and Services Tax : FAQ ON KERALA FLOOD CESS Q.1 Why Kerala Flood Cess is imposed? Ans: Kerala Flood Cess is levied to raise the fund required for re-...
Goods and Services Tax : File No.CT/10077/2019-GSTINFO1 User Manual for Kerala Flood Cess (KFC) Annual Return 1. Menu Click the ‘Annual Return’ 2. List...
Income Tax : Overseas Polymers Private Limited Vs ACIT (ITAT Mumbai) Legislature in Sec. 40(a)(ii) has though provided that ‘any rate or ...
Goods and Services Tax : Learn about the latest guidelines for claiming Kerala Flood Cess refunds, including application procedures and processing steps, a...
Goods and Services Tax : Annual Kerala Flood cess return date extended to 30.04.2022 from earlier date of 15th of March 2022. KERALA STATE GOODS AND SERVIC...
Goods and Services Tax : The taxpayers were facing some technical issues as a result whereof, the annual Kerala Flood Cess Return for the period 2019-20 an...
Goods and Services Tax : But various trade bodies/organizations have raised certain practical difficulties with regards to the filing of Kerala Flood Cess ...
Goods and Services Tax : As per Rule 3 (1) of Kerala Flood Cess Rules, 2019, only taxable persons are liable to file Kerala Flood Cess Return in Form KFC-A...
In August 2018, the State of Kerala faced a devastating flood due to high rainfall which was the worst flood in nearly a century. There was huge loss to the assets, revenue of the State. As a result, the State of Kerala proposed for levy of additional cess in GST which was approved by the GST council in its 32nd Council meeting held on 10th January 2019.
FAQ ON KERALA FLOOD CESS Q.1 Why Kerala Flood Cess is imposed? Ans: Kerala Flood Cess is levied to raise the fund required for re-construction of State after the devastating flood occurred in the State during August 2018. Q.2 Which is the date of commencement of Kerala Flood Cess? Ans: Kerala Flood Cess is applicable […]
The Kerala flood cess rules 2019 shall be implemented from 01st August 2019 onwards for two years i.e till July 2021. As per the aforesaid Rules read with the amendments thereon, the Kerala flood cess (KFC) shall be imposed at the rate of 1% and/or 0.25% on the following local outward supplies (Intrastate outward supplies) made to B2C […]
CBIC inserted new rule 32A which deals with the value of supply in cases where the Kerala Flood Cess is applicable. The present article highlights the basic provisions of ‘Kerala Flood Cess’ and explains the impact of the newly inserted rule 32A.
Government have decided to appoint the date of levy and collection of Kerala Flood cess with effect from the 1st day of August, 2019 and also to make suitable amendment in the said rules.
1. Kerala to levy calamity cess up to 1% over and above GST, for the purpose of providing reconstruction, rehabilitation and compensation needs which had arisen due to massive floods which occurred in the State during August, 2018 2. The Power to impose such a levy flows from Article 279(A) (4)(F) of the constitution 3. […]
While the taxpayers have been rejoicing with the introduction of GST that levy of Cess has been done away with, there are constitutional powers granted to GST Council for levy of cess during a national calamity/disaster. The said power has been exercised by the GST council and the state Government of Kerala, levying ‘Kerala Flood […]
Q.1 What is the rate of Kerala Flood Cess? Ans: The rates of Cess are as follows: Goods taxed at the rate of 1.5% KGST-0.25% Cess Goods taxed at the rate of 6%,9% and 14% KGST-1% Cess All services under SGST-1% Cess Q.2 What are the types of supply which would attract Kerala Flood Cess? […]
The effective date of implementation of Kerala Flood Cess is from 1st July 2019 Government have decided to appoint the date of levy and collection of the Kerala Flood Cess with effect from the 1st day of July,2019 instead of earlier decided 1st June 2019. GOVERNMENT OF KERALA Taxes (B) Department NOTIFICATION G.O.(P) No.81/2019/TAXES Dated, […]
Government have decided to postpone the date of applicability of Kerala Flood Cess Rules 2019 with effect from the 1st day of July,2019 instead of earlier decided 1st June 2019. GOVERNMENT OF KERALA Taxes (B) Department NOTIFICATION G.O. (P) No.82/2019/TAXES Dated, Thiruvananthapuram, 31st May,2019 S.R.O. No……………………. /2019.– In exercise of the powers conferred by sub-clause […]
