SEBI TO LEVY FEE ON BOURSES
The Securities and Exchange Board of India (SEBI) proposes to levy fee on stock exchanges. The board is in the process of finalising the decision, which will later be communicated to the exchanges.
The charges will be pegged to the turnover of the stock exchanges. It is for the first time that the
market regulator will be charging the stock exchanges. Until now, various activities on the stock
exchanges only attracted taxes levied by the Government like Securities Transaction Tax on
deals and fees to brokers. A recent SEBI report opined that the exchanges should collect registration fees on behalf of the market regulator while collecting transaction charges to avoid duplication.
The charges will be pegged to the turnover of the stock exchanges. It is for the first time that the
market regulator will be charging the stock exchanges. Until now, various activities on the stock
exchanges only attracted taxes levied by the Government like Securities Transaction Tax on
deals and fees to brokers. A recent SEBI report opined that the exchanges should collect registration fees on behalf of the market regulator while collecting transaction charges to avoid duplication.
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