Tax distribution: prescribed percentage of Union taxes assigned to States, with presidential orders after Finance Commission recommendations. The substitution provides that specified Union List taxes (excluding certain duties, surcharge and specific cesses) are levied and collected by the ... Summary
Tax distribution: prescribed percentage of Union taxes assigned to States, with presidential orders after Finance Commission recommendations.
The substitution provides that specified Union List taxes (excluding certain duties, surcharge and specific cesses) are levied and collected by the Government of India but a prescribed percentage of net proceeds shall be excluded from the Consolidated Fund of India and assigned to the States where leviable, with distribution manner and timing prescribed; "prescribed" means presidential orders until a Finance Commission is constituted and presidential orders after considering Finance Commission recommendations thereafter.
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