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Which Tax Is Not Shared by Centre and State

These taxes belong exclusively to the Centre. In other words, no part of the revenue from these taxes can be allocated to the States. The following taxes fall into this category: India is a federal state. Power is shared between the Union and the States. The functions were classified as being exclusively for the Centre, exclusively for the State, and for the Centre and the States. The following taxes and duties belong exclusively to the States. They are mentioned in the list of States. Each State has the right to levy, collect and levy such taxes. Taxes are (vii) taxes on the sale or purchase of goods in the context of interstate commerce (with the exception of newspapers).

The constitution provided for the possibility of distributing the revenues from the captain`s taxes levied by the center among the States. To ensure a fair and reasonable balance between the respective shares of the Centre and the States. Article 280 of our Constitution empowers the President of India to establish a Finance Commission every five years. There, the taxes included in the Union list shall be levied by the Centre, but (a) shall be levied by the States in which those duties are levied; and (b) collected by the Centre where such fees are levied in a territory of the Union. The net revenue from these duties and taxes shall be apportioned among the States in accordance with the principles established by Parliament. This category covers excise duties on the Union list, with the exception of those on medicinal products and toiletries. These are collected and confiscated by the Centre. The net proceeds of these duties may be paid to States from the Consolidated Fund of India only if Parliament so provides. Income taxes (with the exception of agricultural income tax and corporation tax) are collected and collected by the Centre, but must be apportioned between the Centre and the States in the manner prescribed by the Chairman on the recommendation of the Finance Committee. The compulsory distribution of income tax is provided for in article 270 of the Constitution. (iv) taxes on the net present value of personal and corporate assets. (vi) taxes on the sale or purchase of newspapers and taxes on advertisements published therein.

. (v) taxes on transactions on stock exchanges and futures markets (with the exception of stamp duties). . (ii) excise duties on medicinal products and toiletries containing alcohol. (viii) tax on the consumption or sale of electricity. A sales tax is a consumption tax levied at the place of purchase for certain goods and services. The tax is usually set as a percentage by the government that collects it. Sales tax can be levied either by the central or state government or by the central sales tax department. The revenue from this tax was allocated to the States by amending article 269 of the Constitution. Thus, sale within the State (domestic sale) falls within the competence of the State Government, while sale outside the State (intergovernmental sale) falls within the competence of the central Government. In India, taxes are divided into six groups! (x) Sales and Purchase Tax on Goods (except Newspapers), e.B.

for Sales Tax. Your comments will only be displayed after manual approval. (i) Inheritance obligations (with the exception of agricultural land). In addition, the principles of distribution are also laid down by Parliament. It should be noted that the distribution of the proceeds, income tax, is mandatory, while that of excise duties is allowed. (i) stamp duty on bills of exchange, cheques, promissory notes and others. (iii) terminal taxes on goods and passengers carried by rail, sea and air. .