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Tax Preparation
Indirect Tax
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Tax Rates
Taxes
Stamp Duty
(C) Apart from taxes levied and collected by the States, the Constitution has provided for the revenues for certain taxes on the
Union List to be allotted, partly or wholly to the States. These provisions fall into various categories :
Duties which are levied by the Union Government but are collected and appropriated by the States. These include stamp duties,
excise duties on medical preparations containing alcohol or narcotics.
Taxes which are levied and collected by the Union, but the entire proceeds of which are assigned to the
states, in proportion determined by the Parliament. These taxes include :
Succession and Estate duty.
Terminal Taxes on goods and passengers.
Taxes on railway freight and fares.
Taxes on transactions in stock exchanges and future markets.
Taxes on sale and purchase of newspapers and advertisements therein.
Central Taxes on income and union excise duties are levied and collected by the Union but are shared
by it with the States in a prescribed manner.
Proceeds of additional excise duty on mill made textiles, sugar and tobacco which are levied by the
Union since 1957 in replacement of State sales taxes on these commodities are wholly distributed
among the States in a manner as to guarantee their former incomes from the displaced sales taxes.
Es tablis he d
in
Chairm an
Ope rational
Duration
1951
KC Niyogi
1952 - 57
1952
II
1956
K Santhanam
1957 - 62
III
1960
AK Chanda
1962 - 66
1961
IV
1964
PV Rajamannar
1966 - 69
1965
1968
Mahaveer Tyagi
1969 - 74
VI
1972
Brahma Nand
Reddy
1974 - 79
1973
VII
1977
JM Shellet
1979 - 84
1978
VIII
1983
YB Chaw an
1984 - 89
IX
1987
NKP Salve
1989 - 95
1989
1992
KC Pant
1995 - 2000
XI
1998
AM Khusro
2000 - 2005
XII
2003
C Rangarajan
2005 - 2010
XIII
2007
NC Kelkar
2010 - 2015
The distribution of net proceeds of taxes to be shared between the Union and the States and the allocation of share of such proceeds among the States. The principles
which should govern the payment of grants in aid by the Centre to the States. Any other matter concerning financial relations between the Centre and the States.
TAGS: Direct Taxes India, Finance Commission of India, Indian Indirect Taxes, Indian Tax Structure, Indirect Taxes in India
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