The words and figures in 268 and 269 substituted as “268, 268A and 269” by the Constitution (Eighty-eighth

Amendment) Act, 2003, section 3 (not enforced) and further substituted by the Constitution (One Hundred and First Amendment) Act, 2016, section 10 (w.e.f.16.9.2016). 3. Inserted by ibid. 164 THE CONSTITUTION OF INDIA (Part XII. - Finance, Property, Contracts And Suits) (1B) The tax levied and collected by the Union under clause (2) of article 246A and article 269A, which has been used for payment of the tax levied by the Union under clause (1) of article 246A, and the amount apportioned to the Union under clause (1) of article 269A, shall also be distributed between the Union and the States in the manner provided in clause (2).] (2) Such percentage, as may be prescribed, of the net proceeds of any such tax or duty in any financial year shall not form part of the Consolidated Fund of India, but shall be assigned to the States within which that tax or duty is leviable in that year, and shall be distributed among those States in such manner and from such time as may be prescribed in the manner provided in clause (3). (3) In this article, “prescribed”means,— (i) until a Finance Commission has been constituted, prescribed by the President by order, and (ii) after a Finance Commission has been constituted, prescribed by the President by order after considering the recommendations of the Finance Commission.]