MANAGEMENT

Detailed explanation-1: -Sales Tax is a form of tax paid to a governing body for the sale of goods and services. Sales tax is an indirect tax and is generally charged at the point of buy or exchange of certain taxable goods, charged as a percentage of the value of the product.

Detailed explanation-2: -Cess /sɛs/ is a tax that is generally levied for promoting services like health and education. Governments often charge cess for the purpose of development in social sectors. The word is a shortened form of “assess". The spelling is due to a mistaken connection with census.

Detailed explanation-3: -The sales tax is a type of indirect tax. In contrast, the incidence of such taxes is passed on to the end consumer of goods or services by adding such taxes to the value of those goods or services, like Excise duty, Service tax, VAT, etc.

Detailed explanation-4: -Sales tax is an additional amount of money you pay based on a percentage of the selling price of goods and services that are purchased. For example, if you purchase a new television for $400 and live in an area where the sales tax is 7%, you would pay $28 in sales tax. Your total bill would be $428.

Detailed explanation-5: -In the colloquial sense, an indirect tax such as sales tax, a specific tax, value-added tax (VAT), or goods and services tax (GST) is a tax collected by an intermediary (such as a retail store) from the person who bears the ultimate economic burden of the tax (such as the consumer).