R.K.Global Cheating - SEBI CHARGES for EQ trading ???

3

3DG3.7R4D3R

New Member
#1
#1
I, have been a R.K.Global member for 1 Years, and had been extremely happy with them, but recently I found out that they have been charging "SEBI charges" incorrectly, according to the sites I have visited sebi charges of 0.0002% apply only on turnover of future and option trades.

But, R.K.Global has being charging me and maybe their other users sebi charges on equity turnover, at-least since I joined them, when I found this out, I, emailed them to either, STOP collecting SEBI charges from equity turnover and refund those taken earlier, or email me a link or copy of valid proof that proves the viability of taking SEBI charges from equity turnover. To emphasize my point, I even told them that if they fail to do either I would have to launch a complaint with SEBI.

It, has been 3 working days since my first email, and 3 more working days since my second, that's a total of 6 working days and I haven't received S**T from them, no reply at all. Strange, considering that they used to reply within hours when I had any problems before. And, they still haven't stopped taking sebi charges on EQ turnover.

I, know that SEBI charges are very very low, and many of their users might never have thought about it, but still, it does cost something. I, would like to know from you people who have more trading experience or knowledge regarding these matters, was I right, are SEBI charges really charged only on derivative turnover and are they wrong in charging it on equity turnover ?, or have I been a idiot all along ?, LOL :rofl:


TL;DR : Are SEBI charges viable to be applied on equity turnover ?; should I launch a SEBI complaint against R.K.Global if they aren't ?
 
S

sdebu_2000

Active Member
#2
#2
Hi,
as per as my experience is concerned many brokers charge SEBI charges in all segments like NSEcash BSE Cash other than Future segment(eg. Nirmal Bang securities charges the same in Cash segment) and many brokers charge some amount under the head Regulatory charges (India Infoline charges .004%)
Frankly Speaking I am not sure whether it should be charged in cash or future segment and that is why I never took it easy.
Thanks for your post which make us aware.
 
3

3DG3.7R4D3R

New Member
#3
#3
Thanks for replying dude, keep 'em coming people.

As, for those charges check out "ICICI DIRECT BROKERAGE STRUCTURE" , even they don't charge sebi charges on equity turnover.

Do post others if you know people, and do remember to check your contract note if you are a r.k.global user, plz tell me if you too are charged SEBI charges of 0.0002% on EQ turnover. If you are, plz email and ask them why we are being charged. Let us see, if they reply.

Also, if anybody here has a link to in depth explanation of sebi charges on the sebi website please feel more than welcome to share. :thumb:
 
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S

sdebu_2000

Active Member
#4
#4
I have been charged as SEBI charge by Nirmal bang and Regulatory Charge by IndiaInfoline from the very begining .
Sure we have to know the real story..........
 
PGDIMES

PGDIMES

Well-Known Member
#5
#5
I have been trading with RKG for the last couple of years... I trade mainly in FNO... No SEBI charges were taken... But Zerodha takes SEBI charges as Rs.10/crore...
 
PGDIMES

PGDIMES

Well-Known Member
#6
#6
Following are the charges taken by the brokers:

1) Brokerage: (as agreed between you and the broker)

2) Turnover Tax/Exchange transaction Fee/Transaction charges: Ranges between Rs. 200 to 600 per crore (For options, 5000 to 8000 per crore premium)

3) Service Tax: 10.3% of (Brokerage+Turnover Tax)

4) STT: Generally the same for all brokers

5) Stamp Duty: Rs 200 to 1000 per crore
 
3

3DG3.7R4D3R

New Member
#7
#7
Wait! PGDIMES, dude! did you just say that no sebi charges are taken from your FNO (derivative) turnover in R.K.Global ?, Let me type the charges as they come in the R.K.GLOBAL contract note :

Plz note readers that the brokerage described below is only applicable to R.K.Global 999 plan, but the other charges are applicable to all who trade.


Ok first there list of trades made in the market, then scrip summary, and then below that, this :

OTHER LEVIES,IF ANY:

Net Obligation (This is the profit/loss as shown by ODIN/Web Interface)

Brokerage Rs. 0.00 (Always Zero)

Service Tax on Brokerage Rs.0 (Always Zero)

Transaction Charges (0.0035% of turnover, or Rs.350 / cr in Intraday or Delivery Equity Trading, and 0.0020% of turnover, or Rs.200 / cr in Futures Trading, also 0.0500% of premium in options trading, or Rs.2.5 for security lot of 50, costing Rs.100 Right? )

Service Tax on Trxn.Chg (12.36% of Trxn.Chg shown above, or Rs.43.26 on Rs.350, Rs.24.72 on Rs.200, depends on variable factors for options )

Security Transaction Tax (0.025% on sold securities in Intraday Equity Trading, assuming 50 Lkh selling, that would be Rs.1250 on 50 Lakhs, 0.125% on Equity Delivery turnover, or Rs.12500 / cr in Equity DT , 0.017% on sold securities in Futures Trading, assuming 50 Lkh selling, that would be Rs.850 on 50 Lakhs, depends on variable factors for options )

STAMP DUTY ( 0.01% of Turnover in Equity Delivery Trading, or Rs.1123.60 / cr including srv tax on stamp duty in Equity DT, 0.002% of Turnover in Equity Intraday Trading, or FNO Trading, Rs.224.72 / cr including srv tax on stamp duty.)

SEBI CHARGES ( 0.00022472% of turnover in futures, Rs.22.47 / cr , 0.00022472% of turnover, depends on variable factors for options, I haven't seen it being applied to turnover in Equity (Intraday or Delivery) anywhere else , but R.K.Global applies it on Equity trading turnover, and they haven't replied to a single email from me asking about it's viability.)

Net Amount ( This is what we get in hand, after the government and exchanges are done taking their PROFIT from our Loss or Profit, LOL!! :rofl:)

So, again, are you telling me, that you see, Rs.0.00 beside SEBI CHARGES when trading in FNO in R.K.GLOBAL, are you very sure??. Plz check the latest contract note in the email supplied to R.K.Global before replying.
 
PGDIMES

PGDIMES

Well-Known Member
#8
#8
There is no space for SEBI charges in my ECN... But I can assure you that they take STT and stamp duty in round nos., rounded to the higher integer which means Rs. 100.05 will be taken as 101 and not 100... :mad:

This is part of my ECN on 19th of this month... traded in 2 lots of options only...

OTHER LEVIES, IF ANY :
Code: 
Brokerage Charges	Rs.	36
Service Tax	        Rs.     5.59
Transaction Charges 	Rs.	18.26
STAMPDUTY CHARGES(F&O)	Rs.	1
STT	                Rs.	2
Net Amount 	        Rs.	2057.15
 
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PGDIMES

PGDIMES

Well-Known Member
#9
#9
I have confirmed with Kolkata office of RKG. These are the charges taken by RKG on FNO:

Code: 
[B]Charges[/B]                   [B]Futures[/B]                               [B]Options[/B]
Brokerage                9/lot                                 9/lot
NSE charges              300/crore                             7100/crore
Service Tax                            on the above two only
STT                      1700/crore(sell)                     1700/crore(sell)
Stamp Duty               225/crore                            225/crore
 
PGDIMES

PGDIMES

Well-Known Member
#10
#10
Stamp duty is different for Delhi. It's 200/crore in Delhi. No service tax is levied on Stamp duty. Please check your Turnover charges in futures and options. I think they have broken the charges to add the SEBI charges.
 
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