Cess tax is a type of tax that is earmarked to fund a certain cause with its proceeds. Duty is any tax that is paid on imports.
What is Cess Tax?? is there any full form of CESS?? OR its just word related to Tax??
CESS is a synonym for tax, duty, fee, etc. When tax is applied to income, its called INCOME TAX... When tax is applied to goods, its called DUTY, say, EXCISE DUTY, CUSTOMS DUTY, etc... When tax is applied to a particular purpose, its called CESS, say, EDUCATION CESS, HIGHER & SECONDARY CESS...
The meaning of cess tax varies from one region to another. Some of the most popular meanings include a tax, an assessment or a tax lien.
According to Worldwide-Tax.com a CESS is an education tax in India. Site referenced: http://www.worldwide-tax.com/india/india_tax.asp.
Cess tax is a type of tax that is earmarked to fund a certain cause with its proceeds. Duty is any tax that is paid on imports.
What is Cess Tax?? is there any full form of CESS?? OR its just word related to Tax??
When govt. collects tax on goods, it is called as "duty" (eg., excise duty, customs duty) When govt. collects tax for particular purpose, it is called as "cess" S.Ramachandran Professional Impex Pvt Ltd Chennai
CESS is a synonym for tax, duty, fee, etc. When tax is applied to income, its called INCOME TAX... When tax is applied to goods, its called DUTY, say, EXCISE DUTY, CUSTOMS DUTY, etc... When tax is applied to a particular purpose, its called CESS, say, EDUCATION CESS, HIGHER & SECONDARY CESS...
The meaning of cess tax varies from one region to another. Some of the most popular meanings include a tax, an assessment or a tax lien.
Library cess is the mechanism by which the state government collect revenue for the functioning of public libraries in the state. Library cess is a kind of tax which is levied on the house/property tax, usually it ranges between 5%-10%.For instance, if you buy a land for 1 lakh of rupees and the property tax is 10% and the library cess over it is 5%.Then,the tax alone will amount to 10 thousand and cess will 5% of 10000,that is,500 rupees. Then the total amount you will have to pay is rupees 1,10,500 out of which rupees 500 will go in the budget of libraries.
According to Worldwide-Tax.com a CESS is an education tax in India. Site referenced: http://www.worldwide-tax.com/india/india_tax.asp.
difference b/w direct tax and indirect tax
the only difference between tax paid by buyers and tax paid by sellers is who sends the money to the government. Manga economics student
cess
cess,ceed, cede
Its full Form is Secandary and Higher Education Cess (SHE Cess) . it is additional Cess imposed by govt. to pramote higher education