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Q.

What is meant by CESS? How do we compute value for paying Cess?

Asked by OmPrakash singh, 06 Nov '08 12:52 pm
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Answers (2)

1.

Cess is used as rider to a tax for collecting additional revenue for a specific purpose. For instance we have Education Cess @ 2% which we pay along on service tax or income. The % of cess is calculated as per the rate prescribed in the Act dealing with levy of that specified cess.
Answered by Shyam, 06 Nov '08 01:28 pm

 
  
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2.

Cess is nothing other than a tax or levy. It is to be levied as per the prescribed percetage on items specified by law. For example, 10 % educational cess is to be mandatorily levied on Income tax. So, whenever an assesse is liable to pay income tax, he has to pay the cess of 10% on the amount of income tax
Answered by thampy chacko, 06 Nov '08 01:00 pm

 
  
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