Home Acts & Rules Finance Act / Amendment Acts Finance Acts FINANCE ACT, 2013 Chapters List Chapter VII COMMODITIES TRANSACTION TAX This
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Section 132A. - Chapter VII not to apply in certain cases. - FINANCE ACT, 2013Extract Chapter VII not to apply in certain cases. 132A. Notwithstanding anything contained in this Chapter, the provisions of this Chapter shall not apply to taxable commodities transactions entered into by any person on a 2 [ recognised stock exchange ] located in an International Financial Services Centre, where the consideration for such transaction is paid or payable in foreign currency. Explanation . For the purposes of this section, International Financial Services Centre shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones, Act, 2005. . (28 of 2005) ******************** Notes:- 1. Inserted vide FINANCE ACT, 2016, w.e.f 1st day of June, 2016 2. Substituted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2020 before it was read as recognised association
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