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Government has introduced a new Cess called ‘Krishi Kalyan Cess (KKC)’ in Finance Act 2016 which will take effect from 01-Jun-2016. It is imposed on all taxable Services at the rate of 0.5%. KKC is not a Cess on Service Tax but it is a tax on taxable services in addition to Service tax. It would be calculated in the same way as Service Tax is being calculated.
IN7.1_TFS167310 – Krishi Kalyan Cess [9.04 MB – EXE]
Before this update can be installed, the following prerequisites are required:
Microsoft Dynamics ® NAV 2013 R2 India
No new objects have been added through this update. Licensing refresh is not required.
The following fields are added to Service Tax Setup , setup values given below
For detailed information you can check this Link.