2020 · Q34
Which one of the following has the largest contribution to the Gross Tax Revenue of Government of India 2019 - 20 (BE)?
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- AGoods and Services Tax
- BCorporation Tax
- CCustoms
- DUnion Excise Duties
Explanation
In the Union Budget 2019–20 (BE), Corporation Tax was projected at about ₹7.66 lakh crore, ahead of GST at about ₹6.63 lakh crore — making it the largest contributor to gross tax revenue. Customs and Union excise duties were considerably smaller.