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of <h1>Recognized associations must pay commodities transaction tax under Section 119 using a challan at designated banks.</h1> Every recognized association obligated to collect and remit commodities transaction tax under section 119 of the Act must pay this tax to the Central Government. This payment should be made by depositing the tax amount into any branch of the Reserve Bank of India, the State Bank of India, or any authorized bank, using a commodities transaction tax challan.
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