- Article 280 of the Constitution of India provides for the constitution of a Finance Commission. - The Commission makes recommendations regarding the distribution of the net proceeds of taxes between the Union and the States, the allocation of such proceeds among the States, and the principles that should govern the grants-in-aid to the States from the Consolidated Fund of India. - These recommendations aim to address fiscal imbalances and disputes by suggesting a formula for resource sharing. - While the Supreme Court (Option A) can adjudicate legal disputes between the Centre and States under Article 131, including those with financial implications, the Finance Commission is the primary constitutional body for recommending the division of financial resources and principles of fiscal transfers. - The Law Minister and Finance Minister (Options B and C) are part of the executive government and are involved in policy-making, not independent agencies for resolving fiscal disputes between the Union and States in this specific context.