Increase of transaction cost in mcx

E

esconindia

New Member
#1
#1
Hi experts
As all of you know that in new budget government have imposed 0.01 % ctt on commodity trading. Up to 31st march 2013 it was charged as 450/- on one car ore turnover. Now it will become 1000+450= 1450. I have been trading in Mcx silver and my broker is RK global.
Cost of brokerage per batch up-to 31st march is as follow

SILVERMICRO = 27 RUPEES= 27 POINTS(ESTIMATED)
SILVERM = 50 RUPEES = 10 POINTS

NOW COST AFTER 31ST MARCH WOULD BE (ESTIMATED ONLY)
SILVERMICRO= 40 RUPEES= 40 POINTS
SILVERM= 125 RUPEES= 25 POINTS

I would like to create a discussion as how to deal with this situation as transaction cost would be increased 3 to 4 time.

Thanks a lot
susheel
 
A

ayush2020

Well-Known Member
#2
#2
esconindia said:
Hi experts
As all of you know that in new budget government have imposed 0.01 % ctt on commodity trading. Up to 31st march 2013 it was charged as 450/- on one car ore turnover. Now it will become 1000+450= 1450. I have been trading in Mcx silver and my broker is RK global.
Cost of brokerage per batch up-to 31st march is as follow

SILVERMICRO = 27 RUPEES= 27 POINTS(ESTIMATED)
SILVERM = 50 RUPEES = 10 POINTS

NOW COST AFTER 31ST MARCH WOULD BE (ESTIMATED ONLY)
SILVERMICRO= 40 RUPEES= 40 POINTS
SILVERM= 125 RUPEES= 25 POINTS

I would like to create a discussion as how to deal with this situation as transaction cost would be increased 3 to 4 time.

Thanks a lot
susheel
Click to expand...
as in equity it is for selling side.. it seems here too for selling side only .. though i m also seeking clarification on this ..
 
M

MANISH_DAMANI

Well-Known Member
#3
#3
Ya even I read it is on selling side while googling for it. Ya for 1 lot trader RK global is best. For more than that at a time now again zerodha. If fixed brokerage firm found with reasonable brokerage then that will be more better. As now no choice has to pay ctt. So now scalp is for 5 points more 1-2 points now dream for retailer like us. In slver too rs 125 as said above so not a big issue for people trading for 200-300 points atleast. Ya profit got reduced by rs 50 per lot. But anyways not impact much rs 1000-2000 increased as cost if trading 20-40 lots . Definitely impact turnover.
 
V

venugopala

New Member
#4
#4
hi,
Please answer my questionnaire in commodities for academic research purpose. I have already posted the questionnaire link. Thanks in advance.
 
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