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The most important source of revenue for the states in India is
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- Corporation tax
- Income tax
- Excise duties
- Sales tax
- Corporation tax
Correct Option: D
The principal source of States own tax revenues is sales tax which accounts for about 60 per cent of the total. The other major components of States own tax revenues according to their revenue share are State excise, registration and stamp duty, motor vehicle and passenger tax, electricity duty, land revenues, profession tax, entertainment taxes and other sundry taxes.
