Meaning of State Finance Commission under Indian Tax

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What is State Finance Commission under Indian Tax

 

This post explains about State Finance Commission under Indian Tax.  

State Finance Commission (SFC)  

State Finance Commission is the Constitutional body of experts on public finance and public administration appointed by each state government at regular intervals of five years under the article 243I of the Constitution to review and revise the financial position of panchayat raj institutions and urban local governments.

State Finance Commissions in India

Article 243I of the Indian Constitution prescribes that the Governor of a State shall, as soon as may be within one year from the commencement of the Constitution (Seventy-third Amendment) Act, 1992, and thereafter at the expiration of every fifth year, constitute a Finance Commission to review the financial position of the Panchayats and to make recommendations to the Governor as to

  1. The principles which should govern
    1. The distribution between the State and the Panchayats of the net proceeds of the taxes, duties, tolls and fees liveable by the State, which may be divided between them under this Part and the allocation between the Panchayats at all levels of their respective shares of such proceeds;
    2. The determination of the taxes, duties, tolls and fees which may be assigned as, or appropriated by, the Panchayats;
    3. The grants-in-aid to the Panchayats from the Consolidated Fund of the State;
  2. The measures needed to improve the financial position of the Panchayats;
  3. Any other matter referred to the Finance Commission by the Governor in the interests of sound finance of the Panchayats.

Article 243Y of the Constitution further provides that the Finance Commission constituted under Article 243 I shall make similar recommendation vis-a-vis municipalities.

The Governor is required to cause every recommendation made by the State Finance Commission together with an explanatory memorandum as to the action taken thereon to be laid before the Legislature of the State.

Links to the websites of the State Finance Commissions wherever established are provided below:

STATES

Andhra Pradesh

Arunachal Pradesh

Assam

Bihar

Chhattisgarh

Goa

Gujarat

Haryana

Himachal Pradesh

Jammu & Kashmir

Jharkhand

Karnataka

Kerala

Madhya Pradesh

Maharashtra

Manipur

Meghalaya

Mizoram

Nagland

Orissa

Punjab

Rajasthan

Sikkim

Tamil Nadu

Tripura

Uttarakhand

Uttar Pradesh

West Bengal

UNION TERRITORIES

Andaman & Nicobar Islands

Chandigarh

Daman & Diu

Delhi

Dadra & Nagar Haveli

Lakshadweep

Pondicherry

 

 


The information on State Finance Commission under Indian Tax is detailed above.   Comment below your thoughts on State Finance Commission under Indian Tax

 

 

 

 

 

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