Question

what is meant by revenue receipt? explain the component of revenue receipt 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.

Explanation:

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