Banking cash transaction tax collection obliges scheduled banks to collect and remit monthly; liability remains despite non-collection. Scheduled banks must collect the Banking Cash Transaction Tax from persons entering into taxable banking transactions, and remit amounts collected to the Central Government by the fifteenth day of the month following the relevant calendar month; a scheduled bank that fails to collect remains liable to pay the tax by that same monthly deadline.
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Provisions expressly mentioned in the judgment/order text.
Banking cash transaction tax collection obliges scheduled banks to collect and remit monthly; liability remains despite non-collection.
Scheduled banks must collect the Banking Cash Transaction Tax from persons entering into taxable banking transactions, and remit amounts collected to the Central Government by the fifteenth day of the month following the relevant calendar month; a scheduled bank that fails to collect remains liable to pay the tax by that same monthly deadline.
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