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Amendment of Act 17 of 2013.- Charge of commodities transaction tax.- Value of taxable commodities transaction.

Clause 215 - Bills - AMENDMENTS TO THE FINANCE ACT, 2013 - FINANCE BILL, 2018 - Clause 215 - 215. Amendment of Act 17 of 2013. In the Finance Act, 2013,- (a) in section 116, in clause (7), after the words sale of commodity derivatives , the words or .....

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action tax. 117. On and from the 1st day of April, 2018, there shall be charged a commodities transaction tax in respect of taxable commodities transaction specified in column (2) of the Table below, at the rate specified in the corresponding entry i .....

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es transaction Rate Payable by (1) (2) (3) (4) 1. Sale of a commodity derivative; 0.01 per cent. seller 2. Sale of an option on commodity derivative; 0.05 per cent. seller 3. Sale of an option on commodity derivative, where option is exercised. 0.000 .....

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at which the commodity derivative is traded; (b) in the case of a taxable commodities transaction relating to an option on commodity derivative, shall be- (i) the option premium, in respect of transaction at serial number 2 of the Table in section 1 .....

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Bill seeks to amend sections 116, 117, 118 and 128 of the Finance Act, 2013 relating to commodities transaction tax. Clause (7) of the section 116 defines taxable commodity transaction . It is proposed to amend the said clause so as to include optio .....

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ayable by the seller. It is proposed to substitute the said section so as to provide the rate at which the commodities transaction tax shall be chargeable in respect of the taxable commodities transaction, which shall be payable by the seller or purc .....

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