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Krishi Kalyan Cess Feature for Microsoft Dynamics NAV 2013 R2 for India Released

Ashwini Tripathi

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.

Download

IN7.1_TFS167310 – Krishi Kalyan Cess [9.04 MB – EXE]

Installation

Before this update can be installed, the following prerequisites are required:
Microsoft Dynamics ® NAV 2013 R2 India
Pre-requisites

  • NAV 2013 R2 RTM Database (Version 7.10.35473)
  • Import below Hotfixes sequentially
No. TFSID Fixes Description
1 TFS353595 TDS Zero Percent
2 TFS354411 FVU 3.9-4.1 and TDS Zero Pct
3 HF377555 GL Inconsistency
4 TFS160375 Swachh Bharat Cess

 

License Requirement

No new objects have been added through this update. Licensing refresh is not required.

 

Setup

The following fields are added to Service Tax Setup , setup values given below

S. No Field Description Value
1. KK Cess % 0.5
2. KK Cess Payable Account Balance  Sheet Account under Liabilities and Account Type = Posting
3. KK Cess Payable Interim Balance  Sheet Account under Liabilities and Account Type = Posting
4. KK Cess Receivable Interim Account Balance  Sheet Account under Assets and Account Type = Posting
5. KK Cess Receivable Account Balance  Sheet Account under Assets and Account Type = Posting
6. KK Cess Expense Account Income Statement Account and Account Type = Posting

For detailed information you can check this Link.

 

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Published by Ashwini Tripathi

Company was incorporated under sub-section (2) of section 7 of Companies Act, 2013 and rule 18 the Companies (Incorporation Rules, 2014. Company Directors are (1) Ashwini Tripathi & (2) Rashmi Tripathi We provide wide range of services currently only for Microsoft Dynamics Navision. (1) Freelancing (2) Virtual Employee (3) Hourly basis service (4) Dedicated resource (5) Training You can hire/ contract/ offshore work. Provide assistance and service for Implementation, Development and Upgrade. We are also Partner under Affiliate/MVAR Program for NAV, AX & CRM. Currently we are servicing to only international customers. We have associated with some Indian Companies to service International Customers. We have provided service to Microsoft Affiliated Partners too. We have our own customers too.