The correct answer is Commercial taxes (GST).
Commercial taxes are a major source of revenue for the state government of Bihar. In 2020-21, commercial taxes contributed 42% of the state’s own tax revenue. The other options are not as significant contributors to the state’s tax revenue.
Income tax is a central government tax, and Bihar does not receive a significant share of the revenue from this tax. Property tax is a local government tax, and Bihar’s municipalities do not collect enough property tax to be a significant source of revenue for the state government. Excise on liquor is a state government tax, but it is not as significant a source of revenue as commercial taxes.
Commercial taxes are levied on the sale of goods and services. The rates of commercial taxes vary depending on the type of goods or services being sold. Commercial taxes are collected by the state government through the Bihar State Tax Department.
The revenue from commercial taxes is used to fund a variety of state government programs, including education, health, and infrastructure. Commercial taxes are an important source of revenue for the state government of Bihar, and they play a vital role in the state’s economy.