Question:
Which statement is correct in the context of revenue from customs duties as mandated by the Constitution?
Which statement is correct in the context of revenue from customs duties as mandated by the Constitution?
Updated On: June 02, 2025
- It is collected by States completely.
- It is retained by the Centre completely.
- It is shared between Centre and State.
- Customs duties was abolished by the Constitution.
Hide Solution
Verified By Collegedunia
The Correct Option is B
Solution and Explanation
The correct option is (B) :It is retained by the Centre completely.
Was this answer helpful?
0
0
Top Questions on Economic and Financial Affairs
- Identify the economic state whereby financial transactions are not connected with money in the form of physical bank notes or coins but rather through the transfer of digital information between the transacting parties :
- CUET (UG) - 2023
- Economics
- Economic and Financial Affairs
- Match List I with List IIChoose the correct answer from the options given below :
List I List II A. One child norm I. Pakistan B. Economic Reforms since 1988 II. Liberal taxation policies C. Global Economic Group III. China D. Special Economic Zones IV. G-20 - CUET (UG) - 2023
- Economics
- Economic and Financial Affairs
- An endorsement that contains signature of the endorser as well as name of the person in whose favour the endorsement is made is called :
- CUET (PG) - 2023
- Economics
- Economic and Financial Affairs
- Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R
Assertion A: Quasi contracts are not contracts in the real sense of the term.
Reason R: Quasi contracts are implied-in-law contracts where parties involved do not intend to create a contract.
In the light of the above statements, choose the correct answer from the options given below:- CUET (PG) - 2023
- Economics
- Economic and Financial Affairs
- Which of the following requires passing of special resolution?
A. To declare dividends
B. To alter articles of association
C. To appoint auditors
D. To reduce the share capital of the company
E. To alter memorandum for changing the place of registered office from on state to another.
Choose the correct answer from the options given below:- CUET (PG) - 2023
- Economics
- Economic and Financial Affairs
View More Questions
Questions Asked in CUET exam
- Choose the grammatically correct sentence:
- Statement: "Every student must carry their ID card to enter the library."
Assumption:
1. Students without ID cards can't be identified.
2. ID cards help ensure security and regulation.- CUET (UG) - 2025
- Logical Reasoning
- What is the angle between the hour and minute hand at 3:30?
- CUET (UG) - 2025
- Clock and Calendar
- A and B can complete a task in the ratio 3:2. If together they complete the task in 20 days, how long will A alone take?
- CUET (UG) - 2025
- Time and Work
- Five friends A, B, C, D, and E are sitting in a row. B is to the immediate right of D. C is to the immediate left of E. D is not at either end. Who is sitting at the extreme left?
- CUET (UG) - 2025
- Seating Arrangement
View More Questions
