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...
Tax is calculated as a percent from income/transaction. Cess is calculated on tax. Example: Income: 1,00,000 Tax: 10% Cess: 5% Tax= 10% of 1,00,000= 10,000 Cess= 5% of tax= 5% 0f 10,000= 500
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.
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.
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 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...
cess
Its full Form is Secandary and Higher Education Cess (SHE Cess) . it is additional Cess imposed by govt. to pramote higher education
Tax is calculated as a percent from income/transaction. Cess is calculated on tax. Example: Income: 1,00,000 Tax: 10% Cess: 5% Tax= 10% of 1,00,000= 10,000 Cess= 5% of tax= 5% 0f 10,000= 500
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.
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.
According to Worldwide-Tax.com a CESS is an education tax in India. Site referenced: http://www.worldwide-tax.com/india/india_tax.asp.
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.
tax is already a full form ... and VAT means VALUE ADDED TAX
Full form of TIN in Tally is Tax Identification No.Full form of TIN in Tally is Tax Identification No.
Tax-----trunk automatic exchange
Tax-----trunk automatic exchange