General Trading Chat

[aja]

Very bad 15% service tax will increase to 18%. Service tax for banking/financial service has been fixed, it is 18%.

After adding Cess it will be almost 23%

Jetley thinks ki Trading is a Luxurious Job :annoyed:

 

[vivektrader]

Very bad 15% service tax will increase to 18%. Service tax for banking/financial service has been fixed, it is 18%.

At present its 60rupees/lakh including brokerage (for Zerodha) on sell side in equities, it will become about 66/lakh I think.

Vivek

 

[princy01]

Very bad 15% service tax will increase to 18%. Service tax for banking/financial service has been fixed, it is 18%.

Can we have any practical examples?

 

[vivektrader]

After adding Cess it will be almost 23%

Jetley thinks ki Trading is a Luxurious Job :annoyed:

All cess are gone....
Are they?
Vivek

 

[headstrong007]

@ aja and princy,
I just listening to CNBC news when it was finalized, they said for telecom, banking, and online trading it was fixed to 18%. I have no idea if there is any sets on it. They don't told about anything then..

23% service tax for online trading is absurd. It is almost one fourth, it adds to transaction cost also. I hv no idea how govt can do it.

 

[Mercedes]

Big boooooom hasnt yet come
and
people are talking of big crash :lol:

funny of those
who think this is big boooooooooommmm :lol: :lol:
then
they havnt seen big booooooom in their life

jaha dekho wahi chalu ho jate ho :lol:

 

[vivektrader]

@ aja and princy,
I just listening to CNBC news when it was finalized, they said for telecom, banking, and online trading it was fixed to 18%. I have no idea if there is any sets on it. They don't told about anything then..

23% service tax for online trading is absurd. It is almost one fourth, it adds to transaction cost also. I hv no idea how govt can do it.

Service tax is charged on brokerage+transaction charges only (actually found out after asking question) (as per contract notes), @ present service tax mentioned in contract notes is 14%, if it increases to 18%, net effect on equity per lakh would be 5-6 rupee more on sell side. In case of futures effect should be lower.
So chill I suppose.

Vivek

 

[aja]

8% more tax means it will going to affect breakeven
Scalping for small points will be very difficult
As market is likely to go up,margin will also increase.

very small traders like me are now out of the game by Dec :annoyed:

 

[timepass]

After adding Cess it will be almost 23%

Jetley thinks ki Trading is a Luxurious Job :annoyed:

What cess ???

 

[aja]

What cess ???

18% + Call and Trade Charge+Tax on It=23%