< b="" />Central Government Taxes in the Indian Constitution< />

The Indian Constitution provides for a division of taxation powers between the Central Government and the State Governments. While both levels of government have the authority to levy taxes, certain taxes are exclusively assigned to the Central Government by the Constitution. One such tax is the Corporation Tax.

< b="" />Explanation< />

< b="" />1. Corporation Tax< />

The Corporation Tax is levied on the income of companies and corporations operating in India. It is exclusively assigned to the Central Government by the Constitution. The power to levy and collect this tax is derived from Entry 82 of the Union List in the Seventh Schedule of the Constitution. This means that only the Central Government has the authority to impose and collect taxes on the income of corporations.

< b="" />2. Estate Duty< />

Estate Duty, also known as inheritance tax, is a tax levied on the transfer of property or assets after the death of an individual. However, the power to levy and collect this tax is not exclusively assigned to the Central Government. Prior to its abolishment in 1985, both the Central and State Governments had the authority to levy and collect estate duty. Therefore, estate duty cannot be considered as a tax exclusively assigned to the Central Government.

< b="" />3. Sales Tax< />

Sales Tax, also known as Value Added Tax (VAT), is a tax levied on the sale of goods and services. However, the power to levy and collect sales tax is not exclusively assigned to the Central Government. Both the Central and State Governments have the authority to levy and collect sales tax. The Central Government levies Central Sales Tax (CST) on inter-state sales, while the State Governments levy sales tax on intra-state sales. Therefore, sales tax cannot be considered as a tax exclusively assigned to the Central Government.

< b="" />4. Taxes on Railway Fares and Freights< />

Taxes on Railway Fares and Freights are levied on the transportation of goods and passengers by railways. The power to levy and collect these taxes is not exclusively assigned to the Central Government. Both the Central and State Governments have the authority to levy and collect taxes on railway fares and freights. Therefore, taxes on railway fares and freights cannot be considered as taxes exclusively assigned to the Central Government.

In conclusion, among the given options, only the Corporation Tax is exclusively and totally assigned to the Central Government by the Constitution. The Central Government has the exclusive authority to levy and collect taxes on the income of corporations operating in India.