Question
Economics Question on Economic and Financial Affairs
Which statement is correct in the context of revenue from customs duties as mandated by the Constitution?
A
It is collected by States completely.
B
It is retained by the Centre completely.
C
It is shared between Centre and State.
D
Customs duties was abolished by the Constitution.
Answer
It is retained by the Centre completely.
Explanation
Solution
The correct option is (B) :It is retained by the Centre completely.