[amp_mcq option1=”Excise duties on alcohol” option2=”Sales tax (VAT)” option3=”Tourism-related taxes and fees” option4=”All of the above” correct=”option4″]<\/p>\n
The correct answer is: d) All of the above.<\/p>\n
Sikkim generates revenue from its own sources through excise duties on alcohol, sales tax (VAT), tourism-related taxes and fees, and other sources such as land revenue, forest revenue, and registration fees.<\/p>\n
Excise duties are taxes levied on the manufacture, sale, or consumption of certain goods, such as alcohol and tobacco. Sales tax is a tax levied on the sale of goods and services. Tourism-related taxes and fees include taxes on hotel rooms, restaurants, and other tourist facilities. Other sources of revenue include land revenue, forest revenue, and registration fees.<\/p>\n
In 2019-20, Sikkim’s total revenue from its own sources was Rs. 3,233 crore. Of this, excise duties on alcohol accounted for Rs. 433 crore, sales tax (VAT) accounted for Rs. 1,080 crore, tourism-related taxes and fees accounted for Rs. 200 crore, and other sources accounted for Rs. 1,520 crore.<\/p>\n
Sikkim’s revenue from its own sources has been increasing in recent years. In 2018-19, the total revenue from its own sources was Rs. 2,900 crore. This increased to Rs. 3,233 crore in 2019-20. The increase in revenue is due to a number of factors, including the growth of the economy, the increase in tourism, and the implementation of new tax measures.<\/p>\n
Sikkim’s revenue from its own sources is important for the state’s economy. The revenue is used to finance the state’s expenditure, including on education, health, and infrastructure. The revenue is also used to repay the state’s debt.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”Excise duties on alcohol” option2=”Sales tax (VAT)” option3=”Tourism-related taxes and fees” option4=”All of the above” correct=”option4″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[992],"tags":[],"class_list":["post-73729","post","type-post","status-publish","format-standard","hentry","category-sikkim-gk-mcq","no-featured-image-padding"],"yoast_head":"\n