WBCS.LIVE practice question

The major source of Revenue of 2024-25 was

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Corporate Tax
  2. Income Tax
  3. Goods and Service Tax
  4. Customs Duty

Correct answer and explanation

Correct answer: Goods and Service Tax

Explanation: āœ… Correct Answer: C) Goods and Service Tax šŸ“š Explanation: The Goods and Services Tax (GST) continue to serve as the single largest source of indirect tax revenue for the Indian government during the 2024-2025 and 2025-2026 fiscal periods. This unified tax replaced multiple state and central levies. Its steady growth reflects increased compliance and economic activity across the country. Managing GST collections is a primary focus of national fiscal policy.