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As per the Budget Estimates of 2022-23, the following are some of the important sources of tax receipts for the Union Government:
1. Corporation Tax
2. Union Custom Duties
3. Goods and Services Tax
4. Union Excise Duties
Which one of the following is the correct descending order of the aforesaid tax receipts?
  • a)
    1-3-4-2
  • b)
    3-1-4-2
  • c)
    3-4-1-2
  • d)
    1-4-3-2
  • e)
    None of the above/More than one of the above
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
As per the Budget Estimates of 2022-23, the following are some of the ...
Budget estimates for 2022-23:
  • Government receipts (excluding borrowings) are estimated to be Rs 22,83,713 crore, an increase of 4.8% over the revised estimates of 2021-22.
  • The gap between these receipts and the expenditure will be plugged by borrowings, budgeted to be Rs 16,61,196 crore, an increase of 4.4% over the revised estimate of 2021-22.
  • Gross tax revenue is budgeted to increase by 9.6% over the revised estimates of 2021-22, which is lower than the estimated nominal GDP growth of 11.1% in 2022-23.
  • This is mainly on account of a 15% decrease in excise duties. Other taxes are estimated to rise faster than nominal GDP.
  • The net tax revenue of the central government (excluding states’ share in taxes) is estimated to be Rs 19,34,771 crore in 2022-23. 
  • Tax Receipts:
  • Hence, the correct sequence is Goods and Services Tax > Corporation Tax > Union Excise Duties > Union Custom Duties.
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Community Answer
As per the Budget Estimates of 2022-23, the following are some of the ...
Budget estimates for 2022-23:
  • Government receipts (excluding borrowings) are estimated to be Rs 22,83,713 crore, an increase of 4.8% over the revised estimates of 2021-22.
  • The gap between these receipts and the expenditure will be plugged by borrowings, budgeted to be Rs 16,61,196 crore, an increase of 4.4% over the revised estimate of 2021-22.
  • Gross tax revenue is budgeted to increase by 9.6% over the revised estimates of 2021-22, which is lower than the estimated nominal GDP growth of 11.1% in 2022-23.
  • This is mainly on account of a 15% decrease in excise duties. Other taxes are estimated to rise faster than nominal GDP.
  • The net tax revenue of the central government (excluding states’ share in taxes) is estimated to be Rs 19,34,771 crore in 2022-23. 
  • Tax Receipts:
  • Hence, the correct sequence is Goods and Services Tax > Corporation Tax > Union Excise Duties > Union Custom Duties.
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As per the Budget Estimates of 2022-23, the following are some of the important sources of tax receipts for the Union Government:1. Corporation Tax2. Union Custom Duties3. Goods and Services Tax4. Union Excise DutiesWhich one of the following is the correct descending order of the aforesaid tax receipts?a)1-3-4-2b)3-1-4-2c)3-4-1-2d)1-4-3-2e)None of the above/More than one of the aboveCorrect answer is option 'B'. Can you explain this answer?
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As per the Budget Estimates of 2022-23, the following are some of the important sources of tax receipts for the Union Government:1. Corporation Tax2. Union Custom Duties3. Goods and Services Tax4. Union Excise DutiesWhich one of the following is the correct descending order of the aforesaid tax receipts?a)1-3-4-2b)3-1-4-2c)3-4-1-2d)1-4-3-2e)None of the above/More than one of the aboveCorrect answer is option 'B'. Can you explain this answer? for BPSC (Bihar) 2024 is part of BPSC (Bihar) preparation. The Question and answers have been prepared according to the BPSC (Bihar) exam syllabus. Information about As per the Budget Estimates of 2022-23, the following are some of the important sources of tax receipts for the Union Government:1. Corporation Tax2. Union Custom Duties3. Goods and Services Tax4. Union Excise DutiesWhich one of the following is the correct descending order of the aforesaid tax receipts?a)1-3-4-2b)3-1-4-2c)3-4-1-2d)1-4-3-2e)None of the above/More than one of the aboveCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for BPSC (Bihar) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for As per the Budget Estimates of 2022-23, the following are some of the important sources of tax receipts for the Union Government:1. Corporation Tax2. Union Custom Duties3. Goods and Services Tax4. Union Excise DutiesWhich one of the following is the correct descending order of the aforesaid tax receipts?a)1-3-4-2b)3-1-4-2c)3-4-1-2d)1-4-3-2e)None of the above/More than one of the aboveCorrect answer is option 'B'. Can you explain this answer?.
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