BUDGET ’08 : COMMODITIES EXCLUSIVE TO fe

CTT could drive volumes to other avenues

Joseph Massey
Posted: 2008-03-01 22:47:51+05:30 IST
Updated: Feb 29, 2008 at 2307 hrs IST

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Montek for cut in taxes on petrol, diesel

: sad to note that the triple whammy of Service Tax, CTT and non-availability of benefit of treating profit or loss from futures trading as normal business income or loss as in securities market, unless reconsidered, would make the exchanges non-usable in their crucial economic function of risk management and price discovery. These costs will also distort our price vis-à-vis the global prices as the impact cost of trading will increase because of this element of 250% increase in cost of trading.

The writer is deputy managing director, MCX ...

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CTT could drive volumes to other avenues

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