Charge of commodities transaction tax
107. On and from the date of commencement of this Chapter, there shall be charged a commodities transaction tax in respect of every taxable commodities transaction, being sale of commodity derivative, at the rate of 0.01 per cent. on the value of such transaction and such tax shall be payable by the seller.
Notes on Clauses:
Clause 107 of the Bill seeks to make a provision for the charging of a tax called commodities transaction tax at the rate of 0.01 per cent. in case of sale of commodity derivatives in respect of commodities other than agricultural commodities traded in recognised associations.
