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of <h1>Tax Distribution Framework Empowers Union to Collect Revenues and Allocate Proportional Proceeds to States Under Defined Presidential Guidelines</h1> The statutory provision outlines the distribution of taxes between the Union and States. All taxes and duties listed in the Union list, except specific exempted categories, are levied and collected by the Government of India. A prescribed percentage of net proceeds shall be assigned to States where the tax is leviable, distributed according to guidelines established by the President, potentially after consulting the Finance Commission. The provision ensures a systematic allocation of tax revenues between national and state governments.
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