Question

Explain the components of revenue receipts of the government.​

Answer 1

Answer:

Revenue receipts of the government are divided into two groups, namely, (i) tax revenue and (ii) non-tax revenue. Tax revenue consists of proceeds of taxes and other duties levied by the Union government such as income tax, corporate tax, excise duty, customs duty, service tax, etc.

Answer 2

Answer:

Revenue receipts of the government are divided into two groups, namely, (i) tax revenue and (ii) non-tax revenue. Tax revenue consists of proceeds of taxes and other duties levied by the Union government such as income tax, corporate tax, excise duty, customs duty, service tax, etc.

Explanation:

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