Q. Which of the following taxes is/are levied by the Union and collected and appropriated by the States?
Answer:
Stamp Duties
Notes: Stamp duty is a legal tax payable in full and acts as an evidence for any sale or purchase of a property. The collection of stamp duty is a state subject and thus the rates of stamp duty vary from state to state. The Centre levies stamp duty on specified instruments and also fixes the rates for these instruments.