Finance, Property, Contracts and Suits

• 264InterpretationIn this Part, “Finance Commission” means a Finance Commission constituted under article 280.
• 265Taxes not to be imposed save by authority of lawNo tax shall be levied or collected except by authority of law.
• 266Consolidated Funds and public accounts of India and of the States(1) Subject to the provisions of article 267 and to the provisions of this Chapter with respect to the assignment of the whole or part of the net proceeds of certain taxes and duti
• 267Contingency Fund(1) Parliament may by law establish a Contingency Fund in the nature of an imprest to be entitled “the Contingency Fund of India” into which shall be paid from time to time such su
• 268Duties levied by the Union but collected and appropriated by the States(1) Such stamp duties and such duties of excise on medicinal and toilet preparations as are mentioned in the Union List shall be levied by the Government of India but shall be coll
• 268AService tax levied by Union and collected and appropriated by the Union and the States(1) Taxes on services shall be levied by the Government of India and such tax shall be collected and appropriated by the Government of India and the States in the manner provided i
• 269Taxes levied and collected by the Union but assigned to the States(1) Taxes on the sale or purchase of goods and taxes on the consignment of goods shall be levied and collected by the Government of India but shall be assigned and shall be deemed
• 269ALevy and collection of goods and services tax in course of inter-State trade or commerce(1) Goods and services tax on supplies in the course of inter-State trade or commerce shall be levied and collected by the Government of India and such tax shall be apportioned bet
• 270Taxes levied and distributed between the Union and the States(1) All taxes and duties referred to in the Union List, except the duties and taxes referred to in articles 268 and 269, respectively, surcharge on taxes and duties referred to in
• 271Surcharge on certain duties and taxes for purposes of the UnionNotwithstanding anything in articles 269 and 270, Parliament may at any time increase any of the duties or taxes referred to in those articles by a surcharge for purposes of the Un
• 273Grants in lieu of export duty on jute and jute products(1) There shall be charged on the Consolidated Fund of India in each year as grants-in-aid of the revenues of the States of Assam, Bihar, Orissa and West Bengal, in lieu of assignm
• 274Prior recommendation of President required to Bills affecting taxation in which States are interested(1) No Bill or amendment which imposes or varies any tax or duty in which States are interested, or which varies the meaning of the expression “agricultural income” as defined for
• 275Grants from the Union to certain States(1) Such sums as Parliament may by law provide shall be charged on the Consolidated Fund of India in each year as grants-in-aid of the revenues of such States as Parliament may det
• 276Taxes on professions, trades, callings and employments(1) Notwithstanding anything in article 246, no law of the Legislature of a State relating to taxes for the benefit of the State or of a municipality, district board, local board o
• 277SavingsAny taxes, duties, cesses or fees which, immediately before the commencement of this Constitution, were being lawfully levied by the Government of any State or by any municipality
• 279Calculation 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
• 280Finance Commission(1) The President shall, within two years from the commencement of this Constitution and thereafter at the expiration of every fifth year or at such earlier time as the President c
• 281Recommendations of the Finance CommissionThe President shall cause every recommendation made by the Finance Commission under the provisions of this Constitution together with an explanatory memorandum as to the action tak
• 282Expenditure defrayable by the Union or a State out of its revenuesThe Union or a State may make any grants for any public purpose, notwithstanding that the purpose is not one with respect to which Parliament or the Legislature of the State, as th
• 283Custody, etc, of Consolidated Funds, Contingency Funds and moneys credited to the public accounts(1) The custody of the Consolidated Fund of India and the Contingency Fund of India, the payment of moneys into such Funds, the withdrawal of moneys therefrom, the custody of publi
• 284Custody of suitors’ deposits and other moneys received by public servants and courtsAll moneys received by or deposited with —   (a) any officer employed in connection with the affairs of the Union or of a State in his capacity as such, other than revenues or pu
• 285Exemption of property of the Union from State taxation(1) The property of the Union shall, save in so far as Parliament may by law otherwise provide, be exempt from all taxes imposed by a State or by any authority within a State.  
• 286Restrictions as to imposition of tax on the sale or purchase of goods(1) No law of a State shall impose, or authorise the imposition of, a tax on the sale or purchase of goods where such sale or purchase takes place —   (a) outside the State; or
• 287Exemption from taxes on electricitySave in so far as Parliament may by law otherwise provide, no law of a State shall impose, or authorise the imposition of, a tax on the consumption or sale of electricity (whether
• 288Exemption from taxation by States in respect of water or electricity in certain cases(1) Save in so far as the President may by order otherwise provide, no law of a State in force immediately before the commencement of this Constitution shall impose, or authorise t
• 289Exemption of property and income of a State from Union taxation(1) The property and income of a State shall be exempt from Union taxation.   (2) Nothing in clause (1) shall prevent the Union from imposing, or authorising the imposition of, a
• 290Adjustment in respect of certain expenses and pensionsWhere under the provisions of this Constitution the expenses of any court or Commission, or the pension payable to or in respect of a person who has served before the commencement
• 290AAnnual payment to certain Devaswom FundsA sum of forty-six lakhs and fifty thousand rupees shall be charged on, and paid out of, the Consolidated Fund of the State of Kerala every year to the Travancore Devaswom Fund; an
• 292Borrowing by the Government of IndiaThe executive power of the Union extends to borrowing upon the security of the Consolidated Fund of India within such limits, if any, as may from time to time be fixed by Parliamen
• 293Borrowing by States(1) Subject to the provisions of this article, the executive power of a State extends to borrowing within the territory of India upon the security of the Consolidated Fund of the S
• 294Succession to property, assets, rights, liabilities and obligations in certain casesAs from the commencement of this Constitution —   (a) all property and assets which immediately before such commencement were vested in His Majesty for the purposes of the Govern
• 295Succession to property, assets, rights, liabilities and obligations in other cases(1) As from the commencement of this Constitution —   (a) all property and assets which immediately before such commencement were vested in any Indian State corresponding to a St
• 296Property accruing by escheat or lapse or as bona vacantiaSubject as hereinafter provided, any property in the territory of India which, if this Constitution had not come into operation, would have accrued to His Majesty or, as the case m
• 297Things of value within territorial waters or continental shelf and resources of the exclusive economic zone to vest in the Union(1) All lands, minerals and other things of value underlying the ocean within the territorial waters, or the continental shelf, or the exclusive economic zone, of India shall vest
• 298Power to carry on trade, etcThe executive power of the Union and of each State shall extend to the carrying on of any trade or business and to the acquisition, holding and disposal of property and the making
• 299Contracts(1) All contracts made in the exercise of the executive power of the Union or of a State shall be expressed to be made by the President, or by the Governor of the State, as the cas
• 300Suits and proceedings(1) The Government of India may sue or be sued by the name of the Union of India and the Government of a State may sue or be sued by the name of the State and may, subject to any p
• 300APersons not to be deprived of property save by authority of lawNo person shall be deprived of his property save by authority of law.