Territorial scope of Banking Cash Transaction Tax: applies nationwide with a specified territorial exception and applies from commencement. The Chapter has nationwide territorial scope but expressly excludes the State of Jammu and Kashmir; its commencement is fixed, and its provisions apply to ... Summary
Territorial scope of Banking Cash Transaction Tax: applies nationwide with a specified territorial exception and applies from commencement.
The Chapter has nationwide territorial scope but expressly excludes the State of Jammu and Kashmir; its commencement is fixed, and its provisions apply to taxable banking transactions entered into on or after that commencement date, linking taxable liability to transactions occurring subsequent to the Chapter coming into force.
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