Q38: APPSC Prelims 2024 GS (Group-I): Previous Year Question with Answer

Consider the following statements in connection with the distribution of tax revenues between the Centre and the States : I. The proceeds of the surcharges that are levied on taxes and duties referred to in Article 269 and Article 270 of the Constitution of India, would be shared between the Centre and the States. II. Article 268A and Article 272 of the Constitution of India were both repealed by same Constitutional Amendment Act. III. Tax on the sale of petroleum crude is levied by the Centre but collected by the States. IV. The net proceeds of tax categories that are falling under Article 269 of the Constitution of India, do not form a part of the Consolidated Fund of India. Which of the above statement/statements is/are valid ?