Commodity Transaction Tax (CTT)

39 More Agricultural Commodities Exempted from Commodity Transaction Tax; Cotton Seed Oilcake Removed from Exemption List. As of February 10, 2015, 39 additional agricultural commodities have been exempted from the Commodity Transaction Tax (CTT), bringing the total number of exempt agricultural commodities to 61. These newly exempt commodities include aniseed, bajra, cloves, cotton seed, ginger, mung dal, onion, peas, rice, and sunflower seed, among others. Conversely, cotton seed oilcake has been removed from the exemption list. This adjustment aims to alleviate the tax burden on transactions involving these specified agricultural products. (AI Summary)