Statement of Objects and Reasons

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..... xclusive power to make laws with respect to Entry 97 of the Union List for any other matters not enumerated in List II or List III including any tax not mentioned in either of those Lists. In exercise of this power, the Central Government has periodically taxed certain services at the rate of five per cent ad valorem. 2. The States have taken a unanimous decision to replace their existing sales t .....

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..... insertion of a new article, namely, Article 268-A, and (iii) consequential amendment to Article 270, to enable Parliament to formulate by law principles for determining the modalities of levying the said tax by the Central Government and collection of the proceeds thereof by the Central Government and the States. 4. The proposed amendment would help in significant augmentation of revenues of the .....

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