- Tax revenue includes direct and indirect taxes. - Capital receipts are non-debt creating or debt- creating receipts for the government that affect its assets or liabilities. - Non-plan expenditure covers essential government spending not under the plan budget. - VAT is a type of indirect tax on consumption.
Match the following and select the correct answer (a) Tax revenue 1. Provident funds (b) Capital receipts 2. Taxes on income and expenditure (c) Non-plan ex‐ 3. Sales tax penditure (d) Value added tax 4. Interest payments
Asked in TNPSC CS Prelims 2015 · Topic: Fiscal Policy & Revenue (Sources of Government Revenue: Tax and Non-Tax Revenue)
More Economic Development questions
- Choose the correct statements related to "Black money" (a) These are assets not reported to the Government at the time of their generation. (b) Estimate of black money in India for the year 1983-84 is 95% of GDP. (c) "Tax havens" are typically big countries which impose high tax on the foreigners who decide to settle down.
- Which is not related to direct tax Revenues of the central government?
- Expenditure tax in India was introduced by
- According to the Union Budget 2021-22, Finance Minister proposed a new levy Agriculture Development Cess. This cess will be levied on how many products?
- In the current pricing policy, the price of diesel in India consists of
- State VAT/Sales Tax A tax levied by the respective state governments, which is usually ad valorem (a percentage of the price). 4. Dealer's Commission The margin paid to the fuel pump owners. 5. Other minor charges (like pollution cess, etc.) may also be included. - Customs duty is levied on imported goods. While crude oil is imported (and customs duty applies), the refined product (diesel) sold domestically faces Central Excise and State VAT. If refined diesel is imported, customs duty would apply, but Excise and VAT are the standard components levied on domestic sales alongside the base price and dealer commission. - Option B (Fuel component + Excise duty + Sales VAT + Dealer's commission) represents the standard and most significant components of the retail diesel price in India. - Option A includes Customs duty along with Excise and VAT, which is less typical for the main pricing structure of domestically supplied fuel compared to Excise and VAT. 271. The following are some important sources of tax revenue for the Union Government in India : 1. Corporation tax 2. Customs 3. Union excise duties 4. Service tax Arrange the aforesaid sources of revenue in ascending order as per the Budget Estimates for 2013-14.
- Which one of the following has the largest contribution to the Gross Tax Revenue of Government of India in 2019-20 (BE) ?
- Arrange the following sources of revenue of the Central Government in ascending manner in terms of percentage contribution to the total revenues of the Central Government in 2023-24
