Multiple choice

The following taxes are levied and collected by the Union but entire proceeds are assigned to the states: (a) Taxes on railway fright and fares (b) Excise duty (c) Taxes on sale and purchase of newspapers and ads therein (d) Taxes on transactions in stock exchange

Which of the above is/are incorrect?

  1. Only (a)

  2. Only (b)

  3. Both (b) and (c)

  4. Only (d)
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Excise duties are levied by the Union government but are collected and appropriated by the states.

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