Which one of the following has the largest contribution to the Gross Tax 39 Revenue of Government of...........

Indian Economic System Money and banking

Which one of the following has the largest contribution to the Gross Tax 'Revenue of Government of India in 2019-20 (BE) ?

This questions was previously asked in

CAPF 2020 Paper-1

View All CAPF Previous Year Papers

Goods and Services Tax

Corporation Tax

Customs

Union Excise Duties

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Explanation:

- Goods and Services Tax (GST): GST is a comprehensive indirect tax introduced to unify the taxation system in India. It is a crucial revenue source that combines multiple indirect taxes.

- Corporation Tax: This tax is levied on the income of companies in India. It is typically a significant component of government revenue.

- Customs: This tax is imposed on goods imported into the country. While important, it generally contributes less than direct taxes to total revenue.

- Union Excise Duties: These are taxes on the production of goods within the country. They were major before GST but have declined in relative importance.

Corporation Tax generally contributed significantly to the Gross Tax Revenue in 2019-20 (BE).