GST- Goods And Service Tax
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Q.Can Input Tax Credit of Krishi kalyan cess be carried forward under GST?
Ans. No.Krishi Kalyan Cess credit not allowed under GST.
In a recent case where assessee wanted to carry forward accumulated Credit of KKC shown in service tax, and apply for Advanced Ruling which was rejected by Advanced Ruling Authority on ground that ITC of KKC could not be carried forward under GST.
Assessee appeal before Appellate Authority stating, Since KKC is subsumed under CGST ACT, therefore it should be allowed as credit.
Appellate Authority rejected appeal on grounds of Delhi HC judgement, Duty and cess are seprate levies, and Credit of KKC can be utilized only for payment of KKC. Therefore Input Tax Credit of Krishi Kalyan cannot be carried forward under GST.
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