Dear Readers,
There is huge debate going on right now about the levy of Krishi Kalyan Cess (“KKC”) on the closing balance of debtors as on 31.05.2016. Please find attached our detailed analysis on the same. In our opinion, KKC shall not be applicable on the value of debtors as on 31.05.2016. To avoid the confusion, we hope that a suitable clarification is issued considering the reasons expressed by us in the attached document. Please feel free to give us your valuable feedback.
Thanks & Regards,