https://www.taxtmi.com/acts?id=10061 Failure to collect the Banking Cash Transaction Tax requires payment of the outstanding tax and interest, and a penalty equal to the amount of tax not collected. Where the tax is collected but not remitted, the collector must pay the tax and interest and is liable to a daily penalty for each day the failure continues, subject to a cap not exceeding the unpaid tax amount. en-us Wed, 22 Oct 2008 13:22:21 +0530 Wed, 22 Oct 2008 13:22:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10061 Failure to collect the Banking Cash Transaction Tax requires payment of the outstanding tax and interest, and a penalty equal to the amount of tax not collected. Where the tax is collected but not remitted, the collector must pay the tax and interest and is liable to a daily penalty for each day the failure continues, subject to a cap not exceeding the unpaid tax amount. Act-Rules F. Acts / Amendment Acts Wed, 22 Oct 2008 13:22:21 +0530 https://www.taxtmi.com/acts?id=10061