Finance Commissions are constitutional bodies that recommend the fiscal relations between the Centre and the States, focusing mainly on tax sharing and grants.
The Finance Commissions of India
Asked in WBCS Main Paper 5 2023 · Topic: The Finance Commission (Core functions: Vertical and horizontal devolution of taxes)
Show answer
Answer: B. recommend the sharing of tax revenues by the Centre and the States.
More Indian Polity and Governance questions
- The role of the Finance Commission is to
- Of Indian currency, the one rupee note bears the signature of the A) Secretary, Ministry of Finance, GoI B) Governor, RBI C) Finance Minister, GoI D) None of these
- Taxes raised are credited into :
- Consider the following statements : 1. The GST Council is chaired by the Union Finance Minister and the Minister of State-in-charge of Finance at the centre is a member. 2. The GST Council will decide the tax rate, exempt goods and the threshold under the new taxation regime. 3. State Governments will have the option to levy VAT, if they so decide. Of these :
- Distribution of Taxes between Centre and States in India is done by the :
- Which is/are correct with regard to Finance Act in India?
- The Principal source of a State Govt's revenue is:
- Which of the following is not shared by the Centre and the States?