{"act":{"id":"finance-act-2013","short_title":"The Finance Act, 2013","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2013-2014.","act_number":null,"act_year":2013,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":142,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2013/"},"unit":"section","section":{"number":"117","heading":"Charge of commodities transaction tax","text":"Charge of commodities transaction tax [Charge of commodities transaction 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 in column (3) of the said Table, on the value of such transaction and such tax shall be payable by the purchaser or the seller, as the case may be, as specified in the corresponding entry in column (4) of the said Table: [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.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p>Charge of commodities transaction tax <b></b></p><p><sup></sup><b>[Charge of commodities transaction tax.</b></p><p><b>117</b>. <i>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 in column (3) of the said Table, on the value of such transaction and such tax shall be payable by the purchaser or the seller, as the case may be, as specified in the corresponding entry in column (4) of the said Table:</i></p><p><sup></sup><b>[<i>TABLE</i></b></p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td><b><i>Sl. No</i></b></td><td><b><i>Taxable commodities transaction</i></b></td><td></td><td><b><i>Rate</i></b></td><td></td><td><b><i>Payable by</i></b></td></tr><tr><td><i>(1)</i></td><td><i>(2)</i></td><td></td><td><i>(3)</i></td><td></td><td><i>(4)</i></td></tr><tr><td><i>1.</i></td><td><i>Sale of commodity derivative</i></td><td></td><td><i>0.01 per cent.</i></td><td></td><td><i>seller</i></td></tr><tr><td><i>2.</i></td><td><i>Sale of commodity derivatives based on prices or indices of prices of commodity derivatives</i></td><td></td><td><i>0.01 per cent.</i></td><td></td><td><i>seller</i></td></tr><tr><td><i>3.</i></td><td><i>Sale of option on commodity derivative</i></td><td></td><td><i>0.05 per cent.</i></td><td></td><td><i>seller</i></td></tr><tr><td><i>4.</i></td><td><i>Sale of option in goods</i></td><td></td><td><i>0.05 per cent.</i></td><td></td><td><i>seller</i></td></tr><tr><td><i>5.</i></td><td><i>Sale of option on commodity derivative, where option is exercised</i></td><td></td><td><i>0.0001 per cent.</i></td><td></td><td><i>purchaser</i></td></tr><tr><td><i>6.</i></td><td><i>Sale of option in goods, where option is exercised resulting in actual delivery of goods</i></td><td></td><td><i>0.0001 per cent.</i></td><td></td><td><i>purchaser</i></td></tr><tr><td><i>7.</i></td><td><i>Sale of option in goods, where option is exercised resulting in a settlement otherwise than by the actual delivery of goods</i><b>]</b></td><td></td><td><i>0.125 per cent.</i></td><td></td><td><i>purchaser.\".</i></td></tr></table></div><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":249,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2013/section/117/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}