Increase in Stamp Duty on Stock transactions ( incl Commodity and Currency )

Dear all ,

Greetings of the day!

Last evening , the Maharashtra State Govt. in the State Budget modified the Stamp Duty Structure as under and imposed a uniform stamp duty across all type of transactions.

For Delivery Txn : From 0.01 % to 0.005 %

For Trading Txn or not resulting in Delivery : From 0.002 % to 0.005 %

Impact : Cost of transactions for Trading and FNO Turnover will increase due to hike in stamp duty

Cost of Delivery based Transactions will reduce

Effective Date: To be announced .

This single measure has made the Budget of the Govt . surplus which was earlier in deficit. Since the trading turnover on the bourses constitute 96 % of the total turnover , it is a windfall for the Government as the revenue from this front will rise by 150 % ( approx . Rs. 1600 crores ) which is approximately more than the bottom line of all participants of the Broking industry .

Regards,

Maulik Doshi

DENIP Consultants Pvt. Ltd.