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STT collections surge in Q1
August, 10th 2006
Securities transaction tax (STT) collections of the Centre has touched a level of Rs 1,218 crore during the first quarter of the current fiscal, the Rajya Sabha was informed on Tuesday. For the entire fiscal 2005-06, the Government had collected STT of Rs 2,513 crore. In 2004-05, the Centre had collected STT of Rs 589 crore. STT, introduced in 2004, is in the nature of a turnover tax and levied on every transaction undertaken in a recognised stock exchange of the country.
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