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of <h1>Finance Act 2020: Retrospective Tax Changes on Fishmeal and Agricultural Machinery Parts under Section 135</h1> Section 135 of the Finance Act, 2020 provides retrospective exemptions and levies concerning integrated tax under the Integrated Goods and Services Tax Act, 2017. It states that no integrated tax shall be levied on the supply of fishmeal from July 1, 2017, to September 30, 2019. Additionally, a 12% integrated tax is imposed on the supply 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 that would have been exempt under this provision.
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