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Eduncle posted an MCQ
October 17, 2019 • 21:15 pm 0 points
  • UGC NET
  • Political Science

Which of the following taxes are levied by the Union but are collected and appropriated by the States?

Which of the following taxes are levied by the Union but are collected and appropriated by the States? (a) Stamp duties (b) Excise duties on medical and toilet materials (c) Sales tax (d) Land revenue Select the correct answer from the given options :

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    Eduncle Best Answer

    Taxes levied by the centre but collected and appropriated by the states (Article 268) : It includes following taxes and duties : (i) Stamp duties on bills of exchange, cheques, promissory notes, policies of insurance, transfer of shares etc. (ii) Excise duties on medicinal and toilet preparation containing alcohol and narcotics.
    All these taxes are levied within state and do not form part of consolidated fund of India.

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