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of <h1>Finance Bill 2020: Retrospective Tax Exemption on Fishmeal, Reduced Tax on Agricultural Machinery Parts Under Clause 130</h1> Clause 130 of the Finance Bill, 2020, provides a retrospective exemption from central tax on fishmeal supplies from July 1, 2017, to September 30, 2019. It also imposes a retrospective central tax at a reduced rate of six percent on supplies of pulley, wheels, and other parts used in agricultural machinery from July 1, 2017, to December 31, 2018. No refunds will be issued for taxes already collected during these periods, even if the tax would not have been collected had this provision been in effect at the time.
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