Part XII
Finance, Property, Contracts and Suits
Part XII of the Constitution contains financial provisions including those related to taxation, definition of various Funds, the right to hold property, and borrowing by Union and State governments.
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Articles 264 to 300A
Chapter I.—Finance
- Article 264: Interpretation
- Article 265: Taxes not to be imposed save by authority of law
- Article 266: Consolidated Funds and public accounts of India and of the States
- Article 267: Contingency Fund
- Article 268: Duties levied by the Union but collected and appropriated by the States
- Article 268A: Service tax levied by Union and collected and appropriated by the Union and the States
- Article 269: Taxes levied and collected by the Union but assigned to the States
- Article 269A: Levy and collection of goods and services tax in course of inter-State trade or commerce
- Article 270: Taxes levied and distributed between the Union and the States
- Article 271: Surcharge on certain duties and taxes for purposes of the Union
- Article 272: Taxes which are levied and collected by the Union and may be distributed between the Union and the States
- Article 273: Grants in lieu of export duty on jute and jute products
- Article 274: Prior recommendation of President required to Bills affecting taxation in which States are interested
- Article 275: Grants from the Union to certain States
- Article 276: Taxes on professions, trades, callings and employments
- Article 277: Savings
- Article 278: Agreement with States in Part B of the First Schedule with regard to certain financial matters
- Article 279: Calculation of “net proceeds”, etc.
- Article 279A: Goods and Services Tax Council
- Article 280: Finance Commission
- Article 281: Recommendations of the Finance Commission
- Article 282: Expenditure defrayable by the Union or a State out of its revenues
- Article 283: Custody, etc., of Consolidated Funds, Contingency Funds and moneys credited to the public accounts.
- Article 284: Custody of suitors’ deposits and other moneys received by public servants and courts
- Article 285: Exemption of property of the Union from State taxation
- Article 286: Restrictions as to imposition of tax on the sale or purchase of goods
- Article 287: Exemption from taxes on electricity
- Article 288: Exemption from taxation by States in respect of water or electricity in certain cases
- Article 289: Exemption of property and income of a State from Union taxation
- Article 290: Adjustment in respect of certain expenses and pensions
- Article 290A: Annual payment to certain Devaswom Funds
- Article 291: Privy purse sums of Rulers
Chapter II.—Borrowing
Chapter III.—Property, Contracts, Rights, Liabilities, Obligations and Suits
- Article 294: Succession to property, assets, rights, liabilities and obligations in certain cases
- Article 295: Succession to property, assets, rights, liabilities and obligations in other cases
- Article 296: Property accruing by escheat or lapse or as bona vacantia
- Article 297: Things of value within territorial waters or continental shelf and resources of the exclusive economic zone to vest in the Union
- Article 298: Power to carry on trade, etc.
- Article 299: Contracts
- Article 300: Suits and proceedings
Chapter IV.—Right to Property
More About Part XII: Finance, Property, Contracts and Suits
Part XII of the Constitution contains financial provisions including those related to taxation, definition of various Funds, the right to hold property, and borrowing by Union and State governments.