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Rationalisation of the provisions relating to Commodity Transaction Tax

Budget - Dated:- 5-2-2018 - G. RATIONALISATION MEASURES The existing clause (7) of section 116 of the Finance Act, 2013 provides the definition of taxable commodities transaction to mean a transaction of sale of commodity derivatives in respect of co .....

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e (7) of section 116 so as to include options in commodity futures in the definition of taxable commodities transactions . The existing section 117 of the Finance Act, 2013 provides the rate at which a commodities transaction tax in respect of every .....

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prescribe the rate at which sale of an option on commodity derivative shall be chargeable and such tax shall be payable by the seller. It is further proposed to amend the provisions of section 117 so as to prescribe the rate at which sale of an optio .....

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