Cess: GK, Current Affairs, Questions, Trivia and News

Nagaland has imposed a COVID-19 Cess on Petroleum

States are starting to target petroleum for revenue. Nagaland recently imposed a cess on petrol and diesel sales. Cess Cess is a type of tax that is charged on a commodity over and above the base tax liability of the tax payer. It is generally imposed when the government needs to raise funds for a ..

GST Revenue Collection Report for November 2019

According to a report published by the Ministry of Finance, Gross Goods and Services Tax(GST) revenue collected in November was Rs 1,03,492 crore out of which  Central GST (CGST) is around Rs 19,592 crore, State GST (SGST) of Rs 27,144 crore, Integrated GST (IGST) of Rs 49,0287 crore including Rs 20,948 crore collected from imports, ..

Cess for Disaster Relief

The rapidly changing climate and the rising temperatures have led to a spate of floods, droughts, and other natural disasters. Not only do the natural disasters cause the loss of life and limb, but cause loss of public and private property, damage the economic potential of the region, cause a drag on the economy of ..

Budget 2019 : Petrol/Diesel Prices

The Union Budget has made the following changes to its hydrocarbon policy for better revenue realization- The Union Budget 2019 has raised the excise duty and the road & infrastructure cess on the auto fuel by Rs 2 each. This will raise an additional Rs 28,000 crores for the Indian government. The Import of petrol ..

Madhyamik and Uchchtar Shiksha Kosh (MUSK)

Madhyamik and Uchchtar Shiksha Kosh. Approval has been accorded by the Union Cabinet for the creation of Madhyamik and Uchchtar Shiksha Kosh (MUSK) a non-lapsable pool in the Public Account for secondary and higher education. The corpus will have all the proceeds from the 1% cess collected by the government under the ‘secondary and higher education cess’. ..