- Based on the Budget Estimates (BE) for 2013-14 for the Union Government's gross tax revenue from the specified sources: - Corporation Tax: ₹ 3,79,600 crore - Customs: ₹ 1,83,000 crore - Union Excise Duties: ₹ 1,90,000 crore - Service Tax: ₹ 1,87,000 crore - Arranging these in ascending order (smallest to largest): - Customs (₹ 1,83,000 cr) - Source 2 - Service Tax (₹ 1,87,000 cr) - Source 4 - Union Excise Duties (₹ 1,90,000 cr) - Source 3 - Corporation Tax (₹ 3,79,600 cr) - Source 1 - The ascending order is 2-4-3-1. - However, the provided options do not include 2-4-3-1. Option D is 4-3-2-1, which implies Service Tax
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.
Asked in UPSC CAPF 2013 · Topic: Fiscal Policy & Revenue (Sources of Government Revenue: Tax and Non-Tax Revenue)
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