Multiple Choice Questions on Custom duties are ........ for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

Custom duties are ........

Indian Polity Others
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    Custom duties are

    Levied and collected by the Centre but appropriated by the States.

    Correct Answer

    Levied by the Centre but collected and appropriated by the States.

    Incorrect Answer

    Levied, collected and appropriated by Centre alone.

    Incorrect Answer

    Levied by the Centre, collected by the States, but appropriated by the Centre.

    Incorrect Answer
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    Explanation:

    The following taxes belong to the centre exclusively. In other words, no part of the proceeds of these taxes can be assigned to the states. The following taxes fall under this category:

    • Corporation Tax (Corporate tax)
    • Customs Duties
    • Surcharge on Income Tax
    • Taxes on capital value of assets of individual and companies.
    • Fees on matters of the Union list.

    By: Parvesh Mehta
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