Commodities Transaction Tax

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..... date which is to be notified by the central Government. CTT was introduced in the Finance Act 2013 and applicable with effect from 1st July, 2013 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 specified un .....

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..... ction 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). There shall be charged a commodities transaction tax in respect of taxable commodities transaction specified, at the rate specified in the corresponding entry on th .....

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