Commodity Transaction Tax (CTT) what do you guys think about it ?

there would be CTT or 0.01 % on all commodity transactions from april 1..

what do you guys think about this ?

doom for us traders ?

it means 1000 per crore ??? or else only for selling side ??

What benefit do I get from this tax?

Seems the government wants to tax everything it can but there are no returns to the tax payer for having higher taxes.

To fund their expenditure [Plz. read as foreign visits, helicopter+plane rent,security,cars,bills to name a few] the authorities are just blatantly taxing the common people. Each and every possible point to tax is being probed for filling the coffers. I pay taxes to see the ministers flying high in paid helicopters, travelling in lavish cars, living in luxurious bungalows, renting lavish suites in hotels, roaming around with 10-20 commandos to just name a few privileges.

CTT is another ruthless decision going against trader community at large.

We Indians only talks about bull **** topics which effect only few people for which already justice system are made. Like new rape bill? Heard from news that no punishment to lady who make fake allegation on man. Even while traveling in crowded bus/train if by mistake your hand also touch by mistake then these woman can hang you. These lolls only for votes started discriminating between individuals. Earlier in the name of reservation and now all these bull **** topics. Those who is guilty should be punished whether man or woman. But we Indian has enough time on bullshit topics. But we are not fighting for these topics you mentioned above which is effecting our daily life and making our life hell. If I get a chance in my life to leave this hippocratic country then I will definitely do this. I am feeling ashamed to be an Indian where no values for human life only hippocracy in the name of religion, gender etc. Why no body revolt now when these ministers raping our daily life. We earns and these lols enjoy.
When we are paying income tax then what is need of other taxation. Why dont give back all scam money so that India will come trade surplus. Black money story over now. Kejriwal drama over. Everything finish now they teach us by looting us.

One day will come you have to give tax on how much breath you have inhale for survival and how much breath you exhale.:rofl::lol::rofl:

This is quite possible if the standard of living of the ministers inches up high. :rofl:

I don't mind paying a tax when it raises the standard of living of everyone including myself.

The more rich the average person gets, the more the volumes there are to trade. I don't see how this tax can enable traders to make more profits or increase overall profitability.

I've been reading materials by Eckhart Tolle and every time I now act, I try to measure whether an action would be intelligence driven or ego driven. CTT seems to be a way to add funds to fuel the ego of the persons who create such taxes without increasing the money making abilities of those that pay the tax.

IF possible friends, please share new profit/loss calculation with ctt if anybody have a excel with brokerage for commodity

i guess it works like this,

i trade natural gas so if teh current rate on the MCX quote is 200. one lot that is 1250 barrels

becomes 200x1250=250000 now apply CTT on this ie (250000*.01)/100= 25 Rs for one sided Transaction so one lot buyin and selling would cost an additional 50 bucks..

now Crude oil
MCX quoted Price 5000 for one barrel but one lot has 100 barrels

so, 5000*100 =500000

now CTT on this (500000*0.01)/100=50 per side

therefore, buyin and selling one lot would be 50+50 = 100 extra bucks

CTT is meant to curb speculation so i guess its doing its job.. CTT on indian markets alone wont completely curb speculation as there are other high volume exchanges around the world that drive prices like COMEX, CBOT,etc .. CTT on one exchange wont do anything but kill that exchange.. RIP MCX !