Budget update for Traders: Uniform stamp duty for all, rates on an average goes down

Trading Announcements
8

@nithin , so for traders from Tamilnadu , where stamp duty is .006% for Futures will be reduced to. 002% ,am i right. Also you mentioned stamp duty is only for buy side & not for sell side. How is it currently charged

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9

It is already mentioned above, can go through the given link.

10

Here’s a detailed explainer by PWC on the key changes in the amendment.

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11

Will this change be effective from 1st April 2019?

12

I dont’ think will happen till the elections are over. All the states have to first agree on one stamp rate.

13

As new rules, are they asking stamp duty from prop desks also?

14

No idea on this yet. I guess all details only post elections.

15

Stamp duty on derivatives…i believe stock exchange or clearing corp will collect on behalf n will pay to the state of residence of buyers. I wonder if these rates have also been rationalised.
Futures (eqty n commdty) 0.002%
Options (as above) 0.003%

Currency n int rate derivat 0.0001%

Securities (other than debentures) delivery basis 0.015%.
Non delivery basis 0.003%

16

Dear @Nithin @zerodha team

Any update on the following…

thanks

17

When it will be implemented?

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18

@nithin

Any news on what happened to these stamp duty changes?

Thanks,

19

Hi, @nithin
Any update on till when the uniform stamp duty will be applicable?
Also, can brokers and other members ask the govt to cap the stamp duty like few states like Assam do. Charging on ad valorem basis makes scalping and day trading on Futures difficult.

Also, is it for retail traders to instruct their brokers not to generate Contract notes just like props, so as to escape huge stamp duty?

20

I would also like to know that if we can instruct our brokers not to generate Contract notes (as to avoid Stamp duty)?

21

Is that even a thing for retailer ? IF so everyone would have already cancelled it lol

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22

All states have to first agree on one common stamp duty, remember how much time GST took. I guess this will all take time. Ideally there should be no stamp duty on these, but since already state Govt’s make so much, I doubt if there is any way around it.

Of course it is not possible to avoid contract notes. :slight_smile: It is like you saying, can you avoid giving a bill at your restaurant. :slight_smile:

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23

Any updates on this ?

24
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25

Guys, Can someone confirm if there is any change in uniform stamp duty ? I am from Tamil Nadu and there is a huge change in currency trading. Preparing myself to trade on currency from Apr 1

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26

guys any updates?

27

@A_K_RAGHAVENDRAN,

Govt extends implementation of uniform stamp duty for capital market instruments to July 1.

:slight_smile:

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