Current Affairs Question - 25 September 2020

National Banking & Finance

Cess


Consider the following statements with reference to Cess:

  1. A cess is a form of tax usually imposed additionally when the state or the central government looks to raise funds for specific purposes.
  2. If the cess collected in a particular year goes unspent, it may be allocated for other purposes.

Choose the correct answer from the codes given below:

A
Only 1
B
Both 1 and 2
C
Only 2
D
Neither 1 nor 2
Submit