Sharekhan Brokerage and Taxes Structure

[riskfree_trade]

Dear All,
I have a sharekhan account and i have developed an excel sheet which would calculate Brokerage and Taxes as per Sharekhan Tariff. The problem am facing is, the Service tax, STT, Stamp Duty etc that i calculate doesn't match with sharekhan. Though a difference is never more than a rupee. Am just curious what can be reason for such huge difference, as a rupee diff cannot be due to rounding off. From my understanding, the charges as follows
Brokerage............................... 30 Paise/ 100 Rs or 3 Paise per Share
STT....................................... 0.1% on both Buy and Sell
Transaction/Turnover Chargee.... 490/crore
Service Tax ..............................12% on Brokerage+Transaction Charge
Education Cess..........................2% of Service Tax
Higher Education Cess.................1% of Service Tax
SEBI Charges.............................10 Rs/Crore
Stamp Charges..........................0.01%

Now, lets take an example of Marksans Pharma. I bought 13000 shares at 4.65. The brokerage, STT is rightly calculated. But just wondering how is Service Tax and turnover charges calculated.

Qty.......................13000
Rate.......................4.65
Total......................60490.00
Brokerage................390.00
Service Tax..............47.04
STT........................60.49
Amount....................60987.83

Net Of Current Trades........60880.00 Dr
Service Tax...................... 47.04
Education Cess..................0.94
Higher Education Cess.........0.47
STT Amt...........................60.49
Stamp Duty.......................6.05
Turnover Charges...............2.03
Net Amount.......................60997.02 Due to US

 

[riskfree_trade]

12 views and no replies?

 

[mayank.ibsb]

Hey Riskfree_trade.. thank you for the helpful description. Can you please share the excel with us.

Regards,
Mayank

 

[neon_786]

I had an account with Sharekhan 3 years back.. What annoyed me was the wait time on calls..Even if I called from registered number it would take 12-13 minutes to just get connected..

 

[neon_786]

Dear All,
I have a sharekhan account and i have developed an excel sheet which would calculate Brokerage and Taxes as per Sharekhan Tariff. The problem am facing is, the Service tax, STT, Stamp Duty etc that i calculate doesn't match with sharekhan. Though a difference is never more than a rupee. Am just curious what can be reason for such huge difference, as a rupee diff cannot be due to rounding off. From my understanding, the charges as follows
Brokerage............................... 30 Paise/ 100 Rs or 3 Paise per Share
STT....................................... 0.1% on both Buy and Sell
Transaction/Turnover Chargee.... 490/crore
Service Tax ..............................12% on Brokerage+Transaction Charge
Education Cess..........................2% of Service Tax
Higher Education Cess.................1% of Service Tax
SEBI Charges.............................10 Rs/Crore
Stamp Charges..........................0.01%

Now, lets take an example of Marksans Pharma. I bought 13000 shares at 4.65. The brokerage, STT is rightly calculated. But just wondering how is Service Tax and turnover charges calculated.

Qty.......................13000
Rate.......................4.65
Total......................60490.00
Brokerage................390.00
Service Tax..............47.04
STT........................60.49
Amount....................60987.83

Net Of Current Trades........60880.00 Dr
Service Tax...................... 47.04
Education Cess..................0.94
Higher Education Cess.........0.47
STT Amt...........................60.49
Stamp Duty.......................6.05
Turnover Charges...............2.03
Net Amount.......................60997.02 Due to US

STT is always rounded off.. So if its 60.49 it becomes 60 and if its 60.51 it becomes 61.

 

[Vivek Raj Singh]

Hi,

As per my knowledge there are other charges such as exchange transaction cost , SEBI turnover fee and one more fee which i can't recall.
Service charges are levied on them as well
This might be one possible reason for the difference.

 

[sajjadabbu]

I am having account in sharekhan I need excel with brokerage and tax caluculations can anybody help me?

Thanks.