Taxable commodities transaction expanded to include options in goods and price indexed commodity derivatives, updating regulatory references and notices. The amendment expands the definition of taxable commodities transaction to include sales of options in goods and sales of commodity derivatives based on prices or price indices, and replaces reference to recognised associations with recognised stock exchanges. It also substitutes the Forward Contracts regulatory reference with the Securities Contracts (Regulation) framework and inserts 'notifications issued' alongside rules; these changes take effect from 1 April 2020.
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Provisions expressly mentioned in the judgment/order text.
Taxable commodities transaction expanded to include options in goods and price indexed commodity derivatives, updating regulatory references and notices.
The amendment expands the definition of taxable commodities transaction to include sales of options in goods and sales of commodity derivatives based on prices or price indices, and replaces reference to recognised associations with recognised stock exchanges. It also substitutes the Forward Contracts regulatory reference with the Securities Contracts (Regulation) framework and inserts "notifications issued" alongside rules; these changes take effect from 1 April 2020.
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