Interest on delayed commodities transaction tax accrues monthly and must be paid by the taxpayer until the tax is credited. Where an assessee fails to credit the commodities transaction tax or any part thereof to the government account within the prescribed period, the assessee ... Summary
Interest on delayed commodities transaction tax accrues monthly and must be paid by the taxpayer until the tax is credited.
Where an assessee fails to credit the commodities transaction tax or any part thereof to the government account within the prescribed period, the assessee must pay simple interest on the unpaid tax for every month or part of a month by which the crediting is delayed.
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