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Commodities Transaction Tax

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.... which is to be notified by the central Government. CTT was introduced in the Finance Act 2013 and applicable with effect from 1st July, 2013 * "Taxable commodities transaction" means a transaction of sale of commodity derivatives in respect of commodities (other than agricultural commodities), traded in recognized associations. * Agricultural commodities which are not liable to CTT are specif....

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Full Text of the Document

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....commodities transaction tax within 7 days immediately after the end of the month in which such tax is collected. For non-payment or short payment or payment after due date, interest would be charged at the rate of 1 per cent per month (or part thereof). * There shall be charged a commodities transaction tax in respect of taxable commodities transaction specified, at the rate specified in the co....

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