The correct answer is: a) Goods and Services Tax (GST)
Goods and Services Tax (GST) is a value-added tax levied on most goods and services sold for consumption in India. It is a comprehensive indirect tax that subsumes most of the existing central and state indirect taxes, including excise duty, service tax, value-added tax (VAT), central sales tax (CST), and octroi.
GST was introduced in India on July 1, 2017. It is a destination-based tax, which means that the tax is levied at the place where the goods or services are consumed. The GST rate is levied on the value of the goods or services, which includes the cost of the goods or services, the cost of any inward supplies, and the value of any taxes incurred on the supply of the goods or services.
The GST is a major source of tax revenue for the Assam government. In the financial year 2018-19, the GST revenue collected by the Assam government was Rs. 12,000 crore. This was about 20% of the total tax revenue collected by the Assam government in that financial year.
The other options are incorrect because they are not major sources of tax revenue for the Assam government.
- Property Tax is a tax levied on the value of real property, such as land and buildings. It is a major source of tax revenue for local governments in India. However, it is not a major source of tax revenue for the Assam government.
- Excise Duty is a tax levied on goods that are manufactured or produced in India. It is a major source of tax revenue for the central government of India. However, it is not a major source of tax revenue for the Assam government.
- Stamp Duty and Registration Fees are taxes levied on the transfer of property, such as land and buildings. They are a major source of tax revenue for state governments in India. However, they are not a major source of tax revenue for the Assam government.