Commodity Transaction Tax to stay! PDF Print E-mail
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Written by Rasesh Tanna   
Wednesday, 30 April 2008
The traders who were looking for some good news in todays session, were definitely disappointed after hearing from the Finance ministry that the Commodity transaction tax is here to stay and not something they are willing to go back on.

The minister says he is justified in doing so and that the commodity traders must take it in their stride as have the stock traders who already pay "Securities Transaction Tax (STT)".

The budget which was announced last month had proposed a 0.017 CTT for commodity future trades. This actually goes up to millions of crores when calculated.

The MCX are therefore reportedly very disappointed with this latest development.
 
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