Finance, Property, Contracts
(1) "Net proceeds" of a tax/duty means proceeds minus collection costs, as ascertained and certified (finally) by the Comptroller and Auditor-General of India. (2) Parliament or a presidential order may otherwise provide for calculation methods, payment timing/manner, and inter-year adjustments for revenue assigned to states.
This gives the CAG - India's independent government auditor - the final, authoritative say on exactly how much "net proceeds" of a given tax actually is, once collection costs are deducted, ensuring this crucial revenue-sharing calculation isn't left to potentially self-interested government departments to determine themselves.
When states and the Union sometimes dispute exactly how much revenue-sharing money is actually owed, the CAG's certification of "net proceeds" under this article is designed to be the final, unchallengeable word on that specific calculation.