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of <h1>Assessees Must Collect and Remit Commodities Transaction Tax Monthly; Payment Due by 7th of Following Month.</h1> Every recognized association, referred to as the assessee, is required to collect commodities transaction tax from the seller or purchaser involved in a taxable commodities transaction at specified rates. The tax collected each calendar month must be paid to the Central Government by the seventh day of the following month. If the assessee fails to collect the tax, they are still liable to pay it to the Central Government as stipulated.
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