Stamp duty for Uttar Pradesh increased by 25 Times

[ohenry]

Just now got a circular from Zerodha. To quote "Stamp duty for the state of Uttar Pradesh has been revised to 0.05% or maximum Rs. 1000 per day for all segments with immediate effect. "

Just for information it used to be .002% till date. So, has it really been increased by 25 times? It is now 10 times of STT on futures (Counting both Buy and Sell sides) ?

Any Idea if it's a typo or it has really been increased by that much. Needless to say that it makes it virtually impossible to trade in stock markets for UP residents like me.

Update: Zerodha has charged the increased stamp duty (25 Times) in today's contact note itself.

Any other trader from Uttar Pradesh?

 

[timepass]

Wow !! This is huge. Maybe a mistake somewhere.

 

[ohenry]

Zerodha has sent following link to BSE Circular:

https://www.bseindia.com/markets/Ma...tachedId=8ac16dc3-4ac8-46a5-b20b-150d7e12ab4a

Seems like some UP Babu has sent some 100 year old document to list the stamp duty charges. And as I said Zerodha has already implemented the same in today's contact note.

Please suggest if we can do anything about it?

Any comments @RKSV, @Tejas Khoday , @Wisdom Capital (Wisdom capital being based in Noida should be the one most affected, I suppose)

Thanks

 

[TraderRavi]

look at 1 lot NF stamp duty , its not possible to trade with this crap rule

 

[timepass]

Fyers doesn't show it.

https://fyers.in/brokerage-calculator/

Tradesmartonline shows it.

https://help.tradesmartonline.in/what-are-the-stamp-duty-rates-charged/

 

[RadhuK]

KYA TENSION LENEY KA

TRADE WITH OPTIONS... 2 ATM CALLS EQUAL 1 FUTURE IN MOVEMENT (DELTA NEUTRAL)
RISK BHI LESS HAI............... MARGIN BHI KUM

 

[Rajat23]

Yes I am also from UP. UP walo ne aisa kya kar diya jo itna increase kar diya ab future trading is almost impossible

 

[Rajat23]

Sab se zyada UP ka hai

 

[Loss_Lover]

look at 1 lot NF stamp duty , its not possible to trade with this crap rule


View attachment 34375

Ravi bhai, probably there is some sort of a error... What's the logic???

 

[GSAT]

Just now got a circular from Zerodha. To quote "Stamp duty for the state of Uttar Pradesh has been revised to 0.05% or maximum Rs. 1000 per day for all segments with immediate effect. "

Just for information it used to be .002% till date. So, has it really been increased by 25 times? It is now 10 times of STT on futures (Counting both Buy and Sell sides) ?

Any Idea if it's a typo or it has really been increased by that much. Needless to say that it makes it virtually impossible to trade in stock markets for UP residents like me.

Update: Zerodha has charged the increased stamp duty (25 Times) in today's contact note itself.

Any other trader from Uttar Pradesh?

I too can't believe it.. I was charged 1000/ today. For a similar trade value I used to see stamp duty earlier as less than 50/.. I was not able to understand then I saw the zerodha circular.. How can one trade with this much stamp duty..How can this be increased 25 fold in one go.. Extremely disappointed