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of <h1>Finance Bill 2018: Clause 215 amends Finance Act 2013, revising taxable commodity transactions and tax rates.</h1> Clause 215 of the Finance Bill, 2018 amends sections of the Finance Act, 2013 regarding commodities transaction tax, effective April 1, 2018. It revises section 116 to include 'option on commodity derivatives' in the definition of taxable commodity transactions. Section 117 specifies tax rates for such transactions, payable by either the seller or purchaser. Section 118 defines the value of taxable transactions, based on the trading price or option premium. Section 128 is amended to incorporate section 119 of the Income-tax Act, applying its provisions to commodities transaction tax.
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