When was the Commodity Transaction Tax (CTT) introduced in India, and why?

Commodity transaction tax is helpful when trader deals in commodities. Commodity trading in India is under tax regime when both buyer and seller agreed upon certain contract size. Commodity transaction tax is charged on value of transaction goods.

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(Source : https://www.quora.com/When-was-the-Commodity-Transaction-Tax-CTT-introduced-in-India-and-why)