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of <h1>Clause 113: Finance Bill 2013 imposes 1% monthly interest for delayed commodities transaction tax payments to Central Government.</h1> Clause 113 of the Finance Bill, 2013 mandates that any assessee who fails to credit the commodities transaction tax to the Central Government's account within the specified period must pay a simple interest of one percent for each month or part of a month the payment is delayed. This provision ensures timely remittance of the tax collected, imposing financial penalties for non-compliance to encourage adherence to the stipulated deadlines.
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