Commodities Transaction Tax

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..... a date which is to be notified by the central Government. Taxable commodities transaction means a transaction of sale of commodity derivatives in respect of commodities (other than agricultural commodities), traded in recognized associations. Agricultural commodities which are not liable to CTT are almond, barley, cardamom, castor seed, channa/gram, copra, coriander/dhaniya, cotton, cotto .....

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..... in that recognized association (such association will also be known as assessee for this purpose). The assessee will deposit commodities transaction tax within 7 days immediately after the end of the month in which such tax is collected. For non-payment or short payment or payment after due date, interest would be charged at the rate of 1 per cent per month (or part thereof). .....

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