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SSC CGL 2023 PYQ — Question 49

SSC CGL - 26 July 2023 - Shift 3 • General Awareness • Q49

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Which of the following is an example of revenue receipt of the government?

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Correct answer: C

Explanation

The correct answer is option 3 i.e. GST collected by the government.

  • Revenue receipts are funds that the government receives which do not create any liabilities or lead to a reduction in assets.
  • They are typically regular and recurring, forming part of the government's normal income, and are used to meet day-to-day expenditures.
  • Revenue receipts can be divided into tax and non-tax revenueGST is collected regularly as businesses and consumers engage in transactions.
  • GST is collected regularly as businesses and consumers engage in transactions.