Calculation of “net proceeds”, etc

“net proceeds” means in relation to any tax or duty the proceeds thereof reduced by the cost of collection, and for the purposes of those provisions the net proceeds of any tax or duty, or of any part of any tax or duty, in or attributable to any area shall be ascertained and certified by the Comptroller and Auditor-General of India, whose certificate shall be final. 1. Substituted by the Constitution (Sixtieth Amendment) Act, 1988, s.2, for the words “two hundred and fifty rupees” (w.e.f.20.12.1988).