Which one of the following has the largest contribution to the Gross T

Which one of the following has the largest contribution to the Gross Tax Revenue of Government of India in 2019-20 (BE) ?

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Goods and Services Tax

Corporation Tax

Customs

Union Excise Duties

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UPSC CAPF – 2020

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According to the Union Budget 2019-20 Budget Estimates (BE), Goods and Services Tax (GST) was projected to be the largest component of the Gross Tax Revenue of the Government of India. The BE for GST was ₹6,63,343 crore, while Corporation Tax BE was ₹6,01,000 crore, Income Tax (other than Corporation Tax) BE was ₹5,69,000 crore, Union Excise Duties BE was ₹2,48,000 crore, and Customs BE was ₹1,38,000 crore. While actual collections can differ, based on the budget estimates, GST was the largest contributor.

Gross Tax Revenue comprises taxes on income and expenditure, taxes on property and capital transactions, taxes on commodities and services, etc. Major components include Corporation Tax, Income Tax, Goods and Services Tax (GST), Union Excise Duties, and Customs.

The introduction of GST in 2017 significantly altered the structure of India’s indirect tax collection. The relative contributions of major taxes like Corporation Tax, Income Tax, and GST can vary year to year based on economic performance and policy changes.

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