Question

Which of the following are revenue receipts of the Central Government?

• A. GST
• B. Provident Fund
• C. Interest receipts
• D. Recoveries of loans and advances from State Governments

Hint:

Revenue receipts are those that do not create any liability or asset; they are regular income like taxes and interest.

Answer 1

The Correct Option is C

Step 1: Identify revenue receipts: Revenue receipts include tax revenues (like GST) and non-tax revenues (like interest receipts).

Step 2: Exclude non-revenue receipts: Provident Fund and loan recoveries are capital receipts.

Step 3: Conclude: Revenue receipts = GST and Interest receipts.