More than 40 per cent increase in revenue through STT

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Mumbai, Ta. 30 December 2020, Wednesday

While the Corona epidemic has affected most of the government's revenue through taxes, the collection of Securities Transactions Tax (STT) levied on capital market transactions has increased by 3 per cent.

According to the Central Board of Direct Taxes (CBDT), Rs 10,608 crore was collected through STT during April-December of the current financial year as against Rs 4 crore in the same period last year.

In addition, the commodity transaction tax (CTT) figure has been around Rs 3 crore. The government has set a target of Rs 15,000 crore through STT for the current financial year but the recovery figure is expected to be higher than the target by the end of the year.

The recovery in STTs has been high due to the sharp rise in trading volume in the country's stock markets.

Corona has seen a decline in government revenues through GST, corporate taxes and other taxes due to the economic downturn.


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