The Authority for Advance Ruling, Mumbai recently held that accumulated credit by way of Krishi Kalyan Cess as appeared in the Service tax return of Input Service Distributor (ISD) on June 30 2017 cannot be considered as admissible input tax credit.
The question raised before the AAR was that whether accumulated credit by way of Krishi Kalyan Cess as appeared in the Service tax return of Input Service Distributor (ISD) on June 30 2017 which is carried in the electronic credit ledger maintained by the Company under CGST Act 2017 will be considered as admissible input tax credit?
AAR Members comprising B V Borhade and Pankaj Kumar answered the question in negative.
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