JKSSB Mock Tests

Which of the following sentence/s is/are NOT correct? i. The detailed estimates of revenue receipts are usually presented in the finance bill. ii. Non-tax revenue of the central government mainly consists of taxes imposed on goods imported into and exported out of India. iii. Revenue receipts are redeemable.

A. Only i
B. i and ii
C. ii and iii
D. i and iii
Answer: Option C
Solution (By JKSSB Mock Tests Team)
Taxes on imports and exports are customs duties (which are tax revenues, not non-tax), and revenue receipts are inherently non-redeemable since they create no future repayment liability.
This Question Belongs to: General knowledge mcqs Economics set 2

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