Cess
An additional levy charged on taxes plus surcharge, which must be used only for the specific purpose for which it is levied.
This one is not written up yet
The definition above is the short version. A full explanation — how it works, a worked example and the exam traps — is still being written. In the meantime the chapter below covers it in context.
Written up from the same chapter
- Barriers to entryWhatever makes it hard, slow or expensive for a new competitor to enter an industry — and therefore what allows the companies already in it to keep earning above-normal profits.
- Minimum Alternate TaxA floor tax on a company's book profits under Section 115JB, payable when it exceeds tax computed the normal way — which catches corporate investors receiving Category III AIF distributions.
- Porter's Five ForcesMichael Porter's framework for judging how much profit an industry can sustain, through five competitive pressures: rivalry, new entrants, substitutes, and the bargaining power of suppliers and of buyers.
Where this is taught
Free preparation for NISM Series XV← All terms