Distribution of Union-collected taxes: prescribed percentage assigned to States where the tax is leviable. Union-levied taxes and specified related levies are to be collected by the Government of India; a prescribed percentage of their net proceeds in a financial year shall be excluded from the Consolidated Fund of India and assigned to the States in which the tax is leviable, to be distributed among those States in the manner and from the time that is prescribed. 'Prescribed' means orders of the President until a Finance Commission exists and thereafter orders of the President made after considering the Finance Commission's recommendations.