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World Currencies and General Knowledge Quiz
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Among the following tax revenues of the Union Government, which is the biggest source?
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A
Central Excise
💡 Explanation:
Central Excise duty (now subsumed under GST) was historically the biggest source of tax revenue for the Union Government, as it was levied on manufactured goods produced within India. Corporation Tax and Income Tax are significant but typically ranked lower than excise in terms of collection, while Customs Duty is levied on imports.