http://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&feed=atom&action=historyCommodities Transaction Tax (CTT) - Revision history2024-03-29T09:34:11ZRevision history for this page on the arthapediaMediaWiki 1.17.0http://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&diff=3409&oldid=prevArthapedia: /* Contributed by */2016-04-19T10:53:33Z<p><span class="autocomment">Contributed by</span></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Contributed by==</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Contributed by==</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>* [http://www.ies.gov.in/myaccount-profile-view.php?memid=338 Rosemary Abraham, IES(2006)]</div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>* [http://www.ies.gov.in/myaccount-profile-view.php?memid=338 Rosemary <ins class="diffchange diffchange-inline">K. </ins>Abraham, IES(2006)]</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>*Email- [mailto:rosemary.a@nic.in rosemary.a@nic.in]</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>*Email- [mailto:rosemary.a@nic.in rosemary.a@nic.in]</div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>[[Category:concepts|CommoditiesTransactionTax]]</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>[[Category:concepts|CommoditiesTransactionTax]]</div></td></tr>
</table>Arthapediahttp://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&diff=3188&oldid=prevRosemary.a at 02:43, 17 March 20162016-03-17T02:43:56Z<p></p>
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<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>Commodities transaction tax (CTT) is a tax similar to [http://arthapedia.in/index.php?title=Securities_Transaction_Tax_(STT) Securities Transaction Tax (STT)], levied in India, on transactions done on the domestic commodity derivatives exchanges.</div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>Commodities transaction tax (CTT) is a tax similar to [http://arthapedia.in/index.php?title=Securities_Transaction_Tax_(STT) Securities Transaction Tax (STT)], levied in India, on transactions done on the domestic commodity derivatives exchanges<ins class="diffchange diffchange-inline">.Vide [http://www.incometaxindia.gov.in/Pages/acts/finance-acts.aspx Finance Act, 2016] it was stipulated that transactions carried out in a recognized commodity exchange located in an International Financial Center, where the payments are carried out in terms of foreign currency, would be exempt from the payment of CTT</ins>.  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Globally, [http://www.investopedia.com/terms/c/commodityfuturescontract.asp commodity derivatives] are also considered as financial contracts. Hence CTT can also be considered as a type of [http://en.wikipedia.org/wiki/Financial_transaction_tax financial transaction tax].  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Globally, [http://www.investopedia.com/terms/c/commodityfuturescontract.asp commodity derivatives] are also considered as financial contracts. Hence CTT can also be considered as a type of [http://en.wikipedia.org/wiki/Financial_transaction_tax financial transaction tax].  </div></td></tr>
</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&diff=2609&oldid=prevRosemary.a at 11:51, 5 October 20152015-10-05T11:51:44Z<p></p>
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<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>Commodities transaction tax (CTT) is a tax similar to Securities Transaction Tax (STT), levied in India, on transactions done on the domestic commodity derivatives exchanges.</div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>Commodities transaction tax (CTT) is a tax similar to <ins class="diffchange diffchange-inline">[http://arthapedia.in/index.php?title=Securities_Transaction_Tax_(STT) </ins>Securities Transaction Tax (STT)<ins class="diffchange diffchange-inline">]</ins>, levied in India, on transactions done on the domestic commodity derivatives exchanges.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Globally, [http://www.investopedia.com/terms/c/commodityfuturescontract.asp commodity derivatives] are also considered as financial contracts. Hence CTT can also be considered as a type of [http://en.wikipedia.org/wiki/Financial_transaction_tax financial transaction tax].  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Globally, [http://www.investopedia.com/terms/c/commodityfuturescontract.asp commodity derivatives] are also considered as financial contracts. Hence CTT can also be considered as a type of [http://en.wikipedia.org/wiki/Financial_transaction_tax financial transaction tax].  </div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market andto bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage. (Futures contracts are financial instruments and provide for price risk management and price discovery of the underlying asset (commodity / currency/ stocks / interest). It is therefore essential that the policy framework governing is uniform across all the contracts irrespective of the underlying to minimize the chances of regulatory arbitrage.) The proposal of CTT also appears to have stemmed from the general policy of the Government to widen the tax base.  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market andto bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage. (Futures contracts are financial instruments and provide for price risk management and price discovery of the underlying asset (commodity / currency/ stocks / interest). It is therefore essential that the policy framework governing is uniform across all the contracts irrespective of the underlying to minimize the chances of regulatory arbitrage.) The proposal of CTT also appears to have stemmed from the general policy of the Government to widen the tax base.  </div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins style="color: red; font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins style="color: red; font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins style="color: red; font-weight: bold; text-decoration: none;">'''Also see''' </ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins style="color: red; font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins style="color: red; font-weight: bold; text-decoration: none;">[http://arthapedia.in/index.php?title=Securities_Transaction_Tax_(STT) Securities Transaction Tax (STT)]</ins></div></td></tr>
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</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&diff=2266&oldid=prevArthapedia: /* Contributed by */2015-07-23T08:34:55Z<p><span class="autocomment">Contributed by</span></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>*Email- [mailto:rosemary.a@nic.in rosemary.a@nic.in]</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>*Email- [mailto:rosemary.a@nic.in rosemary.a@nic.in]</div></td></tr>
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<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>[[Category:concepts|<del class="diffchange diffchange-inline">Commodities Transaction Tax</del>]]</div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>[[Category:concepts|<ins class="diffchange diffchange-inline">CommoditiesTransactionTax</ins>]]</div></td></tr>
</table>Arthapediahttp://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&diff=2150&oldid=prevRosemary.a at 18:58, 30 May 20152015-05-30T18:58:08Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>In the [http://indiabudget.nic.in/ub2013-14/bs/bs.pdf Union Budget 2013-14](para 149 of the Budget Speech) CTT has been re-introduced, however, only for non-agricultural commodity futures at the rate of 0.01% (which is equivalent to the rate of equity futures). Alongwith this, transactions in commodity derivatives have been declared to be made non-speculative;and hence for traders in the commodity derivative segment, any losses arising from such transactions can be set off against income from any other source (similar provisions are applicable for the securities market transactions).</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>In the [http://indiabudget.nic.in/ub2013-14/bs/bs.pdf Union Budget 2013-14](para 149 of the Budget Speech) CTT has been re-introduced, however, only for non-agricultural commodity futures at the rate of 0.01% (which is equivalent to the rate of equity futures). Alongwith this, transactions in commodity derivatives have been declared to be made non-speculative;and hence for traders in the commodity derivative segment, any losses arising from such transactions can be set off against income from any other source (similar provisions are applicable for the securities market transactions).</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>A separate provision for CTT has been made in the [http://<del class="diffchange diffchange-inline">law</del>.incometaxindia.gov.in/<del class="diffchange diffchange-inline">DIT</del>/<del class="diffchange diffchange-inline">FinAct</del>.aspx<del class="diffchange diffchange-inline">?page=FINA&TabId=tab_FIN </del>Finance Act, 2013] (Chapter VII).  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>A separate provision for CTT has been made in the [http://<ins class="diffchange diffchange-inline">www</ins>.incometaxindia.gov.in/<ins class="diffchange diffchange-inline">Pages</ins>/<ins class="diffchange diffchange-inline">acts/finance-acts</ins>.aspx Finance Act, 2013] (Chapter VII).  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>The CTT rules were [http://www.incometaxindia.gov.in/pages/tax-laws-rules.aspx notified] by Department of Revenue, Ministry of Finance on 19 June 2013 (Notification No. 46 of 2013; S.O. 1769 (E)), with effect from 1 July 2013. As per the notification, only 23 agricultural commodities were exempted from CTT. However, in [http://www.incometaxindia.gov.in/communications/notification/notification13_2015.pdf February 2015] a revised list of 61 commodities was notified including certain commodities where trading is currently not taking place. Like STT, the commodity exchanges have been entrusted to collect CTT on behalf of Government of India.  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>The CTT rules were [http://www.incometaxindia.gov.in/pages/tax-laws-rules.aspx notified] by Department of Revenue, Ministry of Finance on 19 June 2013 (Notification No. 46 of 2013; S.O. 1769 (E)), with effect from 1 July 2013. As per the notification, only 23 agricultural commodities were exempted from CTT. However, in [http://www.incometaxindia.gov.in/communications/notification/notification13_2015.pdf February 2015] a revised list of 61 commodities was notified including certain commodities where trading is currently not taking place. Like STT, the commodity exchanges have been entrusted to collect CTT on behalf of Government of India.  </div></td></tr>
</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&diff=1893&oldid=prevArthapedia at 06:00, 8 April 20152015-04-08T06:00:00Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Contributed by==</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Contributed by==</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>* [http://www.ies.gov.in/myaccount-profile-view.php?memid=338 Rosemary Abraham, IES(2006)]</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>* [http://www.ies.gov.in/myaccount-profile-view.php?memid=338 Rosemary Abraham, IES(2006)]</div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins style="color: red; font-weight: bold; text-decoration: none;">*Email- [mailto:rosemary.a@nic.in rosemary.a@nic.in]</ins></div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>[[Category:concepts|Commodities Transaction Tax]]</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>[[Category:concepts|Commodities Transaction Tax]]</div></td></tr>
</table>Arthapediahttp://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&diff=1657&oldid=prevRosemary.a at 06:27, 23 February 20152015-02-23T06:27:35Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>A separate provision for CTT has been made in the [http://law.incometaxindia.gov.in/DIT/FinAct.aspx?page=FINA&TabId=tab_FIN Finance Act, 2013] (Chapter VII).  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>A separate provision for CTT has been made in the [http://law.incometaxindia.gov.in/DIT/FinAct.aspx?page=FINA&TabId=tab_FIN Finance Act, 2013] (Chapter VII).  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>The CTT rules were [http://<del class="diffchange diffchange-inline">law</del>.incometaxindia.gov.in/<del class="diffchange diffchange-inline">DIT</del>/<del class="diffchange diffchange-inline">Notifications</del>.aspx notified] by Department of Revenue, Ministry of Finance on 19 June 2013 (Notification No. 46 of 2013; S.O. 1769 (E)), with effect from 1 July 2013. As per the notification, only 23 agricultural commodities were exempted from CTT. However, in [http://www.incometaxindia.gov.in/communications/notification/notification13_2015.pdf February 2015] a revised list of 61 commodities was notified including certain commodities where trading is currently not taking place. Like STT, the commodity exchanges have been entrusted to collect CTT on behalf of Government of India.  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>The CTT rules were [http://<ins class="diffchange diffchange-inline">www</ins>.incometaxindia.gov.in/<ins class="diffchange diffchange-inline">pages</ins>/<ins class="diffchange diffchange-inline">tax-laws-rules</ins>.aspx notified] by Department of Revenue, Ministry of Finance on 19 June 2013 (Notification No. 46 of 2013; S.O. 1769 (E)), with effect from 1 July 2013. As per the notification, only 23 agricultural commodities were exempted from CTT. However, in [http://www.incometaxindia.gov.in/communications/notification/notification13_2015.pdf February 2015] a revised list of 61 commodities was notified including certain commodities where trading is currently not taking place. Like STT, the commodity exchanges have been entrusted to collect CTT on behalf of Government of India.  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market andto bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage. (Futures contracts are financial instruments and provide for price risk management and price discovery of the underlying asset (commodity / currency/ stocks / interest). It is therefore essential that the policy framework governing is uniform across all the contracts irrespective of the underlying to minimize the chances of regulatory arbitrage.) The proposal of CTT also appears to have stemmed from the general policy of the Government to widen the tax base.  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market andto bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage. (Futures contracts are financial instruments and provide for price risk management and price discovery of the underlying asset (commodity / currency/ stocks / interest). It is therefore essential that the policy framework governing is uniform across all the contracts irrespective of the underlying to minimize the chances of regulatory arbitrage.) The proposal of CTT also appears to have stemmed from the general policy of the Government to widen the tax base.  </div></td></tr>
</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&diff=1656&oldid=prevRosemary.a at 06:17, 23 February 20152015-02-23T06:17:27Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>A separate provision for CTT has been made in the [http://law.incometaxindia.gov.in/DIT/FinAct.aspx?page=FINA&TabId=tab_FIN Finance Act, 2013] (Chapter VII).  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>A separate provision for CTT has been made in the [http://law.incometaxindia.gov.in/DIT/FinAct.aspx?page=FINA&TabId=tab_FIN Finance Act, 2013] (Chapter VII).  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>The CTT rules <del class="diffchange diffchange-inline">have been </del>[http://law.incometaxindia.gov.in/DIT/Notifications.aspx notified] by Department of Revenue, Ministry of Finance on 19 June 2013 (Notification No. 46 of 2013; S.O. 1769 (E)), with effect from 1 July 2013. As per the notification only 23 agricultural commodities <del class="diffchange diffchange-inline">have been </del>exempted from CTT. Like STT, the commodity exchanges have been entrusted to collect CTT on behalf of Government of India.  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>The CTT rules <ins class="diffchange diffchange-inline">were </ins>[http://law.incometaxindia.gov.in/DIT/Notifications.aspx notified] by Department of Revenue, Ministry of Finance on 19 June 2013 (Notification No. 46 of 2013; S.O. 1769 (E)), with effect from 1 July 2013. As per the notification<ins class="diffchange diffchange-inline">, </ins>only 23 agricultural commodities <ins class="diffchange diffchange-inline">were </ins>exempted from CTT<ins class="diffchange diffchange-inline">. However, in [http://www.incometaxindia.gov.in/communications/notification/notification13_2015.pdf February 2015] a revised list of 61 commodities was notified including certain commodities where trading is currently not taking place</ins>. Like STT, the commodity exchanges have been entrusted to collect CTT on behalf of Government of India.  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market andto bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage. (Futures contracts are financial instruments and provide for price risk management and price discovery of the underlying asset (commodity / currency/ stocks / interest). It is therefore essential that the policy framework governing is uniform across all the contracts irrespective of the underlying to minimize the chances of regulatory arbitrage.) The proposal of CTT also appears to have stemmed from the general policy of the Government to widen the tax base.  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market andto bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage. (Futures contracts are financial instruments and provide for price risk management and price discovery of the underlying asset (commodity / currency/ stocks / interest). It is therefore essential that the policy framework governing is uniform across all the contracts irrespective of the underlying to minimize the chances of regulatory arbitrage.) The proposal of CTT also appears to have stemmed from the general policy of the Government to widen the tax base.  </div></td></tr>
</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&diff=1211&oldid=prevRosemary.a at 10:28, 27 June 20132013-06-27T10:28:51Z<p></p>
<table style="background-color: white; color:black;">
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<td colspan='2' style="background-color: white; color:black;">← Older revision</td>
<td colspan='2' style="background-color: white; color:black;">Revision as of 10:28, 27 June 2013</td>
</tr><tr><td colspan="2" class="diff-lineno">Line 9:</td>
<td colspan="2" class="diff-lineno">Line 9:</td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>A separate provision for CTT has been made in the [http://law.incometaxindia.gov.in/DIT/FinAct.aspx?page=FINA&TabId=tab_FIN Finance Act, 2013] (Chapter VII).  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>A separate provision for CTT has been made in the [http://law.incometaxindia.gov.in/DIT/FinAct.aspx?page=FINA&TabId=tab_FIN Finance Act, 2013] (Chapter VII).  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>The CTT rules have been [http://law.incometaxindia.gov.in/DIT/Notifications.aspx notified] by Department of Revenue, Ministry of Finance on 19 June 2013 (Notification No. 46 of 2013; S.O. 1769 (E)), with effect from 1 July 2013. As per the notification only 23 agricultural commodities have been exempted from CTT.  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>The CTT rules have been [http://law.incometaxindia.gov.in/DIT/Notifications.aspx notified] by Department of Revenue, Ministry of Finance on 19 June 2013 (Notification No. 46 of 2013; S.O. 1769 (E)), with effect from 1 July 2013. As per the notification only 23 agricultural commodities have been exempted from CTT<ins class="diffchange diffchange-inline">. Like STT, the commodity exchanges have been entrusted to collect CTT on behalf of Government of India</ins>.  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market andto bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage. (Futures contracts are financial instruments and provide for price risk management and price discovery of the underlying asset (commodity / currency/ stocks / interest). It is therefore essential that the policy framework governing is uniform across all the contracts irrespective of the underlying to minimize the chances of regulatory arbitrage.) The proposal of CTT also appears to have stemmed from the general policy of the Government to widen the tax base.  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market andto bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage. (Futures contracts are financial instruments and provide for price risk management and price discovery of the underlying asset (commodity / currency/ stocks / interest). It is therefore essential that the policy framework governing is uniform across all the contracts irrespective of the underlying to minimize the chances of regulatory arbitrage.) The proposal of CTT also appears to have stemmed from the general policy of the Government to widen the tax base.  </div></td></tr>
</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Commodities_Transaction_Tax_(CTT)&diff=1210&oldid=prevRosemary.a at 10:27, 27 June 20132013-06-27T10:27:08Z<p></p>
<table style="background-color: white; color:black;">
<col class='diff-marker' />
<col class='diff-content' />
<col class='diff-marker' />
<col class='diff-content' />
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<td colspan='2' style="background-color: white; color:black;">← Older revision</td>
<td colspan='2' style="background-color: white; color:black;">Revision as of 10:27, 27 June 2013</td>
</tr><tr><td colspan="2" class="diff-lineno">Line 9:</td>
<td colspan="2" class="diff-lineno">Line 9:</td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>A separate provision for CTT has been made in the [http://law.incometaxindia.gov.in/DIT/FinAct.aspx?page=FINA&TabId=tab_FIN Finance Act, 2013] (Chapter VII).  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>A separate provision for CTT has been made in the [http://law.incometaxindia.gov.in/DIT/FinAct.aspx?page=FINA&TabId=tab_FIN Finance Act, 2013] (Chapter VII).  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>The CTT rules have been [http://law.incometaxindia.gov.in/DIT/Notifications.aspx notified] by Department of Revenue, Ministry of Finance on 19 June 2013 (Notification No. 46 of 2013; S.O. 1769 (E)), with effect from 1 July 2013.  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>The CTT rules have been [http://law.incometaxindia.gov.in/DIT/Notifications.aspx notified] by Department of Revenue, Ministry of Finance on 19 June 2013 (Notification No. 46 of 2013; S.O. 1769 (E)), with effect from 1 July 2013<ins class="diffchange diffchange-inline">. As per the notification only 23 agricultural commodities have been exempted from CTT</ins>.  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market andto bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage. (Futures contracts are financial instruments and provide for price risk management and price discovery of the underlying asset (commodity / currency/ stocks / interest). It is therefore essential that the policy framework governing is uniform across all the contracts irrespective of the underlying to minimize the chances of regulatory arbitrage.) The proposal of CTT also appears to have stemmed from the general policy of the Government to widen the tax base.  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market andto bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage. (Futures contracts are financial instruments and provide for price risk management and price discovery of the underlying asset (commodity / currency/ stocks / interest). It is therefore essential that the policy framework governing is uniform across all the contracts irrespective of the underlying to minimize the chances of regulatory arbitrage.) The proposal of CTT also appears to have stemmed from the general policy of the Government to widen the tax base.  </div></td></tr>
</table>Rosemary.a