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India: Commodity bourses, market bodies oppose uniform stamp duty

Posted on 30 November 2011

In a strong opposition to a proposed uniform stamp duty on all derivative trades, a host of commodity exchanges and market associations have asked the government to withdraw the proposal.
The country’s five leading commexes, including MCX and NCDEX, as also over two dozen commodity market associations, have written to the Finance Ministry against the proposed move to impose a uniform duty of 0.003% on all derivative trades, including in commodities, equity and electricity………………………………………..Full Article: Source

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