Stamp duty for Uttar Pradesh increased by 25 Times

TraderRavi

low risk profile
#13
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?
many big traders from UP must have felt the pain of this loot in stamp duty.
100 lot NF traders 87000 Rs stamp duty :eek:

edit : I missed this .........
there is an upper cap of Rs 1000 per contract note .
 
Last edited:

lemondew

Well-Known Member
#15
Its a huge benefit for those who are trading more than 25lots. They have to pay only -1000 rs fixed charge. Its at the expense of small traders.

many big traders from UP must have felt the pain of this loot in stamp duty.
100 lot NF traders 87000 Rs stamp duty :eek:

edit : I missed this .........
there is an upper cap of Rs 1000 per contract note .
 

Krushna

Active Member
#17
Could lead to traders moving out of UP, if this is not reversed.
Somebody should start a petition on Change.org or Awaaz.
There have been some petitions like this about the increase in lot size on change.org... nothing happens.
 

Krushna

Active Member
#18
Could lead to traders moving out of UP, if this is not reversed.
Somebody should start a petition on Change.org or Awaaz.
And do you think politicians from other states will not try to butcher the traders there?
 

newtrader101

Well-Known Member
#19

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