COMMODITIES TRANSACTION TAX - FINANCE BILL, 2013

Chapter: VII
COMMODITIES TRANSACTION TAX
Clause 105	:	Extent, commencement and application Chapter VII of the Bill seeks to provide for levy, collection and recovery of Commodities Transaction Tax. ....
Clause 106	:	Definitions Clause 106 of the Bill seeks to define certain terms and expressions used in this Chapter. ....
Clause 107	:	Charge of commodities transaction tax Clause 107 of the Bill seeks to make a provision for the charging of a tax called commodities transaction tax at the rate of....
Clause 108	:	Value of taxable commodities transaction Clause 108 of the Bill provides the manner of computing the value of a taxable commodities transaction. The value of a taxab....
Clause 109	:	Collection and recovery of commodities transaction tax Clause 109 of the Bill provides for collection and recovery of commodities transaction tax by a recognised association from ....
Clause 110	:	Furnishing of return Sub-clause (1) of clause 110 of the Bill provides for furnishing, by recognised associations (assessee) responsible for coll....
Clause 111	:	Assessment Clause 111 of the Bill contains provisions relating to assessment of the value of taxable commodities transactions and commo....
Clause 112	:	Rectification of mistake Clause 112 of the Bill provides for rectification of mistakes apparent from the record of any order passed by the Assessing ....
Clause 113	:	Interest on delayed payment of commodities transaction tax Clause 113 of the Bill provides for payment of simple interest at the rate of one per cent. for every month or part of a mon....
Clause 114	:	Penalty for failure to collect or pay commodities transaction tax Clause 114 of the Bill provides for imposition of penalty on the assessee responsible to collect transaction tax. The penalt....
Clause 115	:	Penalty for failure to furnish return Clause 115 of the Bill provides for penalty for failure to furnish return under clause 110. The penalty in such cases will b....
Clause 116	:	Penalty for failure to comply with notice Clause 116 of the Bill provides that any person, who fails to comply with notice issued under sub-clause (1) of clause 111, ....
Clause 117	:	Penalty not to be imposed in certain cases Clause 117 of the Bill provides that no penalty will be imposable under clause 114, clause 115 or clause 116, if the assesse....
Clause 118	:	Application of certain provisions of Income-tax Act. Clause 118 of the Bill provides that sections 120, 131, 133A, 156, 178, 220 to 227, 229, 232,260A, 261, 262, 265 to 269, 278....
Clause 119	:	Appeal to Commissioner of Income-tax (Appeals) Clause 119 of the Bill provides for an appeal to the Commissioner of Income-tax (Appeals) when the assessee denies his liabi....
Clause 120	:	Appeal to Appellate Tribunal Clause 120 of the Bill provides for appeal to the Appellate Tribunal against order passed by Commissioner of Income-tax (App....
Clause 121	:	Punishment for false statement Clause 121 of the Bill provides for punishment, by way of imprisonment upto a period of three years and with fine, for makin....
Clause 122	:	Institution of prosecution Clause 122 of the Bill provides that no prosecution shall be instituted for an offence under clause 121 except with the prio....
Clause 123	:	Power to make rules Clause 123 of the Bill confers power on the Central Government to make rules for the purposes of carrying out the provisions....
Clause 124	:	Power to remove difficulties Clause 124 of the Bill confers power on the Central Government to issue orders for removal of any difficulty arising in givi....