Commodities transaction tax exclusion: Chapter VII inapplicable to IFSC recognised association trades settled in foreign currency. The Finance Act, 2013 is amended by inserting section 132A to provide that Chapter VII shall not apply to taxable commodities transactions entered into on a recognised association located in an International Financial Services Centre where the consideration is paid or payable in foreign currency, with 'International Financial Services Centre' defined by reference to clause (q) of section 2 of the Special Economic Zones Act, 2005.