Securities Transaction Tax implementation requires exchanges to deploy collection systems and certify readiness before permitting trading. Securities Transaction Tax will be levied on all transactions on stock exchanges, and exchanges are responsible for levy, collection and remittance from the date of government notification. Exchanges must implement software, systems and procedures to ensure proper collection and remittance, and trading shall not be permitted until such systems are in place; the exchanges' MDs/EDs/Administrators must certify readiness. The circular invokes the regulator's powers to protect investors and regulate the securities market.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Securities Transaction Tax implementation requires exchanges to deploy collection systems and certify readiness before permitting trading.
Securities Transaction Tax will be levied on all transactions on stock exchanges, and exchanges are responsible for levy, collection and remittance from the date of government notification. Exchanges must implement software, systems and procedures to ensure proper collection and remittance, and trading shall not be permitted until such systems are in place; the exchanges' MDs/EDs/Administrators must certify readiness. The circular invokes the regulator's powers to protect investors and regulate the securities market.
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