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Commodities transaction tax notice of demand: payment required, interest and penalty for delay, and appeal routes provided. Notice under the Commodities Transaction Tax Rules, 2013 demands payment of a determined tax liability within a prescribed period to an authorised bank, warns that shorter periods may be permitted with prior approval, and encloses a challan. It prescribes simple interest at one per cent per month for delayed payment, potential penalty after hearing, and statutory recovery proceedings, while preserving rights to appeal to the Commissioner (Appeals) and thereafter to the Appellate Tribunal in prescribed forms and time limits.
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Commodities transaction tax notice of demand: payment required, interest and penalty for delay, and appeal routes provided.
Notice under the Commodities Transaction Tax Rules, 2013 demands payment of a determined tax liability within a prescribed period to an authorised bank, warns that shorter periods may be permitted with prior approval, and encloses a challan. It prescribes simple interest at one per cent per month for delayed payment, potential penalty after hearing, and statutory recovery proceedings, while preserving rights to appeal to the Commissioner (Appeals) and thereafter to the Appellate Tribunal in prescribed forms and time limits.
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