Exclusion of Chapter provisions: commodities transactions on IFSC recognised exchanges paid in foreign currency excluded from those rules. The Finance Act amendment excludes Chapter VII from applying 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 the Special Economic Zones Act, 2005.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exclusion of Chapter provisions: commodities transactions on IFSC recognised exchanges paid in foreign currency excluded from those rules.
The Finance Act amendment excludes Chapter VII from applying 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 the Special Economic Zones Act, 2005.
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