Amendment of Act 17 of 2013.- Charge of commodities transaction tax.- Value of taxable commodities transaction.

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....modity derivatives" shall be inserted with effect from the 1st day of April, 2018; (b) for sections 117 and 118, the following sections shall be substituted with effect from the 1st day of April, 2018, namely:- Charge of commodities transaction tax. "117. On and from the 1st day of April, 2018, there shall be charged a commodities transaction tax in respect of taxable commodities tr....

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....action referred to in section 117,- (a) in the case of a taxable commodities transaction relating to a commodity derivative, shall be the price at which the commodity derivative is traded; (b) in the case of a taxable commodities transaction relating to an option on commodity derivative, shall be-       (i) the option premium, in respect of trans....

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....eing sale of commodity derivative and that such tax shall be payable by the seller. It is proposed to substitute the said section so as to provide the rate at which the commodities transaction tax shall be chargeable in respect of the taxable commodities transaction, which shall be payable by the seller or purchaser, as the case may be. Section 118 of the said Act provides the value of taxab....