Article 268 of CoI : Article 268: Duties levied by the Union but collected and appropriated by the States.

Explanation using Example

Example 1:

Scenario: Purchase of Property in Maharashtra

Details:

• Mr. Sharma buys a piece of land in Maharashtra.
• The transaction requires payment of stamp duty, which is listed in the Union List.

Application of Article 268:

• The stamp duty is levied by the Government of India.
• Since Maharashtra is a state, the stamp duty is collected by the Maharashtra State Government.
• The proceeds from the stamp duty collected in Maharashtra do not go to the Consolidated Fund of India but are assigned to the Maharashtra State Government.

Example 2:

Scenario: Purchase of Property in Delhi (Union Territory)

Details:

• Ms. Gupta buys an apartment in Delhi, which is a Union Territory.
• The transaction requires payment of stamp duty, which is listed in the Union List.

Application of Article 268:

• The stamp duty is levied by the Government of India.
• Since Delhi is a Union Territory, the stamp duty is collected by the Government of India.
• The proceeds from the stamp duty collected in Delhi go to the Consolidated Fund of India.

Example 3:

Scenario: Business Transaction in Karnataka

Details:

• A company in Karnataka issues shares and requires payment of stamp duty on the share certificates, which is listed in the Union List.

Application of Article 268:

• The stamp duty is levied by the Government of India.
• Since Karnataka is a state, the stamp duty is collected by the Karnataka State Government.
• The proceeds from the stamp duty collected in Karnataka do not go to the Consolidated Fund of India but are assigned to the Karnataka State Government.

Example 4:

Scenario: Transfer of Property in Puducherry (Union Territory)

Details:

• Mr. Reddy transfers property in Puducherry, which is a Union Territory.
• The transaction requires payment of stamp duty, which is listed in the Union List.

Application of Article 268:

• The stamp duty is levied by the Government of India.
• Since Puducherry is a Union Territory, the stamp duty is collected by the Government of India.
• The proceeds from the stamp duty collected in Puducherry go to the Consolidated Fund of India.