https://www.taxtmi.com/caselaws?id=366727 The court disposed of the petition challenging the circular levying Securities Transaction Tax (STT) on futures contracts settled by physical delivery. The Central Board of Direct Taxes (CBDT) clarified that derivative transactions settled by physical delivery should be subject to the same STT rates as equity share transactions settled by actual delivery. The court found the CBDT's clarification satisfactory, resolving the issue and ensuring uniformity in STT rates. The petition was concluded with stakeholders, including the National Stock Exchange and association members, being informed of their STT obligations for relevant transactions. en-us Tue, 28 Aug 2018 00:00:00 +0530 Sun, 09 Sep 2018 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366727 The court disposed of the petition challenging the circular levying Securities Transaction Tax (STT) on futures contracts settled by physical delivery. The Central Board of Direct Taxes (CBDT) clarified that derivative transactions settled by physical delivery should be subject to the same STT rates as equity share transactions settled by actual delivery. The court found the CBDT's clarification satisfactory, resolving the issue and ensuring uniformity in STT rates. The petition was concluded with stakeholders, including the National Stock Exchange and association members, being informed of their STT obligations for relevant transactions. Case-Laws Companies Law Tue, 28 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366727