The finance ministry today clarified STT on selling options has been increased to 0.062% from 0.05% and not from 0.017% to 0.021% as mentioned in the latest amendment to Finance Bill 2023 that was passed by the Lok Sabha today.
Under the new rules, option traders will have to pay Rs 6,200 for every Rs 1 crore worth of turnover as against Rs 5,000 that is being paid currently. This translates into a hike of around 25%.
What;s the actual STT for options? Earlier it seemed to be 0.05% not 0.017%. What will be the new STT?
As mentioned in NSE :https://www.nseindia.com/invest/first-time-investor-sebi-turnover-fees-stt-other-levies
It is already at 0.05%. Its not hiked, its a major miss at the Fin Ministry
I saw a tweet. Just to be clear, this hike is for everyone and not just retailers, right?
Here comes the clarification from Finance Ministry
yA for all appkicable
ya excuse is typo lolz
but govt’s intention is clear