The 'Finance Commission' recommends distribution of which tax proceeds between the Centre and states? MCQ with Answer and Explanation

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The 'Finance Commission' recommends distribution of which tax proceeds between the Centre and states?

A. corporate tax only

B. central excise duties only

C. Customs duties only

D. net proceeds of divisible taxes

Answer: Option D

Solution (By JKSSB Mock Tests)

The Finance Commission recommends distribution of net proceeds of divisible taxes between Centre and states.

This question belongs to: Economy GK Economy Set 1

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Correct Answer: Option A

Explanation:
The Environment Protection Act was enacted in 1986.

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The Balance of Payments is a systematic record of:

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Correct Answer: Option A

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The Balance of Payments records all economic transactions between residents and the rest of the world.

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