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Tuesday, February 14, 2012

Indian Stock exchanges for abolition of STT

The Indian Stock exchanges on recently pitched for abolition of the securities transaction tax (STT) on equity trades at their meeting with finance ministry officials.

The issue of removal of STT was raised by representatives of many stock exchanges, including BSE, NSE, MCXSX and USE.
The officials of the market regulator Securities and Exchange Board of India (SEBI) were also present at the meeting.

One representative of a stock exchange said, “Finance ministry has taken our view on developments in stock markets and STT. We have suggested removal of STT.
Based on our view the ministry will take a view“ .

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