After the devastating flood that happened in August 2018, Kerala Flood Cess (KFC) was introduced as part of rebuilding the State. The cess has come in to effect from August 1, 2019, for a period of two years. The KFC is levied under Section 14 of the Kerala Finance Act, 2019. The 32nd meeting of GST has conferred permission to levy KFC.
Taxpayers are supposed to collect and pay the flood cess amount alongside return for the month of August 2019 to be filed in September 2019. Since no option is provided in GSTR 3B return for KFC, a separate link has been developed for the same in the Government of Kerala website.
The KFC A form demands the credentials of the user to be entered while logging in the KFC portal provided on the government website. A first time user should register through the link provided in the website by entering the required credentials.
The taxpayer only has to log into the official website www.keralataxes.gov.in for creating user credentials. After logging in to the website, the taxpayer has to select the return period and enter the details of turnover of outward supply imposable under KFC based on GST tax rates. GSTIN will be considered as Registration Number for KFC.
The Goods and Service Tax (GST) is an indirect/consumption tax levied on the supply of goods. Currently, GST is divided into 5 tax slabs for collection of tax- 0%, 5%, 12%, 18% and 28%.The Goods & Service Tax came into effect on July 1, 2017 as per the 101st Amendment of the Constitution of India by the Indian Government.
The GST types are determined based on the province in which the goods and/or services are exchanged and transactions made. The types of GST include: • Central Goods & Services Tax (CGST) • State Goods & Services Tax (SGST) • Union Territory GST (UTGST) • Integrated GST (ITGST)