| The securities transaction tax (STT) has resulted in a shift in volumes from domestic to foreign markets. Nifty futures listed on the Singapore-based SGX rose multi-fold, while these fell on the National Stock Exchange (NSE).
For the government, reportedly considering a commodities transaction tax (CTT), this might well be a signal. Effective 2005-06, the government had introduced 0.125 per cent STT on delivery and 0.025 per cent on intra-day equities trade...............................................Full Article: Source
|