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UPSC Economics Business and Foreign Trade / व्यापार और विदेश व्यापार Question Bank Fiscal and Monetary Policy

  • question_answer
          In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years?

    A) Service tax        

    B)        Personal income tax

    C) Excise duty       

    D)        Corporation tax

    Correct Answer: C

    Solution :

    The excise duty?s share in the total tax revenue, which was 41.3 percent in 1992-93, declined to 25.1 percent in 2006-07. The customs duty?s share in the total tax revenue, which was 31.9 percent in 1992- 93, fell to 17.5 percent in 2006-07, as a result of massive structuring on excise and customs.


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