Collection and recovery of commodities transaction tax

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..... transaction tax 119. ( 1 ) Every 1 [ recognised stock exchange ] (hereinafter in this Chapter referred to as assessee) shall collect the commodities transaction tax from the seller who enters into a t .....

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..... ssessee who fails to collect the tax in accordance with the provisions of sub-section ( 1 ) shall, notwithstanding such failure, be liable to pay the tax to the credit of the Central Government in acc .....

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