Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: VAT Audit :: TDS :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: cpt :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« General »
 Income Tax notification: Aadhaar-PAN linking must from July 1
 Filing ITR just got easier for salaried class with CBDT's one-page form
 Why consumers should welcome GST
 Retailers need to file single GST return every month
 Aadhaar is must for income tax returns if you have one; Here's how you can file it online
 Will it be a tax haven above the law?
 Your mutual fund investment tax efficient? Here are 3 steps to ensure utmost efficiency for your portfolio
 Finally a goods and services tax. But what lies ahead?
 Tax May Rise On Outbound M&As, Indian Mncs’ Investments
 Filing income tax return? Do remember to claim benefits on your reimbursements
 Banks will have a hard slog ahead to get GST-ready

Govt to come out with market-friendly stamp duty norms shortly
June, 24th 2011

The centre is likely to come out with a uniform and market-friendly stamp duty structure for transactions in the capital and commodities markets within two weeks, a senior finance ministry official said.

"Department of Economic Affairs and Department of Revenue are in consultation to evolve a market friendly stamp duty structure," a senior ministry official said.

The new structure, he added, would help the states modify their stamp duty regulations for various instruments like equities, futures and other products.

"We could recommend stamp duty structure for various products in next two weeks," he said.

Different stamp duty rates are imposed on transaction of securities, futures, delivery and other instruments in the share market and commodity exchanges.

Since the stamp duty is levied by the states, the centre can only persuade them to adopt a structure that would bring about some uniformity in rates across the country.

The Maharashtra government recently amended stamp duty regulations and came out with a uniform duty of 0.0005 per cent on all transactions in capital and commodities markets.

"Every state has its own rules. There is utter confusion. Market participants have a long pending demand of making it uniform," CEO of Destimoney Securities Sudip Bandopadhyay said.

Commodity Participants Association of India (CPAI) has also urged state governments, including Forward Market Commission (FMC), to abolish stamp duty on transactions relating to all commodities trade from next fiscal 2012-13.

"Cost of trading in commodities is increasing day by day with varying stamp duties and therefore time has come that the FMC in consultation with state finance ministers should consider removal of this duty," CPAI President of D K Aggarwal said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions