Question

What does "net proceeds" mean as per Article 279 of the

Q: Answer-What does 'net proceeds' mean as per Article 279 of the Constitution?

279. Calculation of net proceeds, etc. 1 In the foregoing provisions of this Chapter, net proceeds means in relation to any tax or duty the proceeds thereof reduced by the cost of collection, and for the purposes of those provisions the net proceeds of any tax or duty, or of any part of any tax or duty, in or attributable to any area shall be ascertained and certified by the Comptroller and Auditor-General of India, whose certificate shall be final.

Constitution?

A The total revenue generated from a tax or duty

B The revenue from a tax or duty minus the expenses incurred in collecting it

C The amount of tax or duty owed by individuals or entities

D The interest accrued on tax payments

E The penalties imposed for non-payment of taxes or duties

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What does "net proceeds" mean as per Article 279 of the

Solution