Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Statutory Provisions
Home Acts & Rules Bill Bills FINANCE BILL, 2020 Chapters List Part V AMENDMENTS TO THE FINANCE ACT, 2013 This
← Previous Next →

Clause 147 - Amendment of section 117. - FINANCE BILL, 2020

FINANCE BILL, 2020
Part V
AMENDMENTS TO THE FINANCE ACT, 2013
  • Contents
  • Plus+

Amendment of section 117.

147. In section 117 of the principal Act, for the Table, the following Table shall be substituted with effect from the 1st day of April, 2020, namely:––

“TABLE

Sl. No.

Taxable commodities transaction

Rate

Payable by

(1)

(2)

(3)

(4)

1.

Sale of commodity derivative

0.01 per cent.

seller

2.

Sale of commodity derivatives based on prices or indices of prices of commodity derivatives

0.01 per cent.

seller

3.

Sale of option on commodity derivative

0.05 per cent.

seller

4.

Sale of option in goods

0.05 per cent.

seller

5.

Sale of option on commodity derivative, where option is exercised

0.0001 per cent.

purchaser

6.

Sale of option in goods, where option is exercised resulting in actual delivery of goods

0.0001 per cent.

purchaser

7.

Sale of option in goods, where option is exercised resulting in a settlement otherwise than by the actual delivery of goods

0.125 per cent.

purchaser.”.

 



 

Notes on Clauses:

Clause 147 of the Bill seeks to amend section 117 of the said Act relating to charge of commodities transaction tax.

It is proposed to substitute the Table of the said section with a new Table.

 
 
 
 
← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||