Q4) _________ is a temporary levy imposed by the government to achieve a specific socio-economic objective.
Q4) _________ is a temporary levy imposed by the government to achieve a specific socio-economic objective.
The correct option is A a) cess
Ans: A
Explanation: Cess is a temporary levy imposed to acheive a specific socio-economic objective.
Examples:A cess is a tax that is levied by the government to raise funds for a specific purpose. Collections from the Education Cess and the Secondary and Higher Education Cess, for instance, are supposed to be used for funding primary and higher and secondary education respectively. Likewise, money collected from the newly introduced KrishiKalyan Cess is to be used for funding agro development initiatives.
Surcharge is: A fee or other charge that is added to the cost of a good or service. A surcharge is typically added to an existing tax, and may not be included in the stated price of a good or service.
a) cess
Ans: A
Explanation: Cess is a temporary levy imposed to acheive a specific socio-economic objective.
Examples:A cess is a tax that is levied by the government to raise funds for a specific purpose. Collections from the Education Cess and the Secondary and Higher Education Cess, for instance, are supposed to be used for funding primary and higher and secondary education respectively. Likewise, money collected from the newly introduced KrishiKalyan Cess is to be used for funding agro development initiatives.
Surcharge is: A fee or other charge that is added to the cost of a good or service. A surcharge is typically added to an existing tax, and may not be included in the stated price of a good or service.
