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India – Implementation of KKC Tax
May 9, 2016
Dear Customer,
In the recent Union Budget announcement on February 29, 2016 the Indian government had announced the implementation of the new Krishi Kalyan Cess (KKC) tax at 0.5% of the value of taxable services with effect from June 1, 2016.
In line with the announcement, Hapag-Lloyd India will invoice the KKC tax at 0.5% of taxable services on your outstanding balances as from June 1, 2016.
Hapag-Lloyd India will raise single invoice for KKC on all the outstanding, which are chargeable to Service Tax.
For further information please contact your local Hapag-Lloyd Finance at asinfinar@hlag.com
Kind Regards,
Hapag-Lloyd AG Chairman
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