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of <h1>Finance Act Section 139 exempts fishmeal from Union territory tax, levies 6% on agricultural machinery parts retroactively.</h1> Section 139 of the Finance Act, 2020, addresses retrospective exemptions and levies under the Union Territory Goods and Services Tax Act, 2017. It stipulates that no Union territory tax shall be levied or collected on fishmeal supplies from July 1, 2017, to September 30, 2019. Additionally, a six percent tax applies to pulleys, wheels, and other parts used in agricultural machinery from July 1, 2017, to December 31, 2018. No refunds will be issued for taxes collected that would not have been collected if this provision had been active during the specified periods.
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