Revenue from the sale of petroleum products contributes significantly to Assam’s:

Excise duty
Sales tax
Income tax
Royalties

The correct answer is: a) Excise duty.

Excise duty is a tax levied on goods produced or manufactured within a country. It is a type of indirect tax, which means that it is paid by the consumer when they purchase the goods, but the tax is collected by the government from the producer or manufacturer.

Excise duty is a major source of revenue for the government of Assam. In 2020-21, excise duty on petroleum products contributed about 25% of the state’s total revenue.

The other options are incorrect because they are not types of taxes that are levied on petroleum products.

  • Sales tax is a tax levied on the sale of goods and services. It is a type of indirect tax, which means that it is paid by the consumer when they purchase the goods or services, but the tax is collected by the government from the seller.
  • Income tax is a tax levied on the income of individuals and businesses. It is a type of direct tax, which means that it is paid directly by the taxpayer to the government.
  • Royalties are payments made by a company to the owner of a property or asset, such as a mineral deposit, in exchange for the right to use that property or asset.