Revision in exchange transaction charges and securities transaction tax from October 1, 2024
In July SEBI released a “true to label” circular stating that market infrastructure institutions (MIIs) have to be “true to label” in the charges they levy to bring in more transparency in pricing.
This circular comes into effect from October 1, 2024, and as a result, the exchanges have revised the Exchange Transaction Charges (ETC)—these charged by the exchanges for executing trades.
Additionally, as announced in the recent budget, the revised Securities Transaction Tax (STT) also comes into effect.
Changes in ETC and STT don’t have any impact on the brokerage you pay at Zerodha. Equity delivery will continue to be free as earlier. As of now, we are not making any changes to our brokerage.
Here’s a breakdown of the old and new ETC and STT
|
Segment |
Current transaction charges |
New transaction charges |
|
NSE |
||
|
Equity Delivery |
0.00322% (or ₹3.22 per lakh) |
0.00297% (or ₹2.97 per lakh) |
|
Equity Intraday |
0.00322% (or ₹3.22 per lakh) |
0.00297% (or ₹2.97 per lakh) |
|
F&O – Futures |
0.00188% (or ₹1.88 per lakh) |
0.00173% (or ₹1.73 per lakh) |
|
F&O – Options |
0.0495% (or ₹49.5 per lakh) |
0.03503% (or ₹35.03 per lakh) |
|
Currency – Futures |
0.0009% (or ₹0.9 per lakh) |
0.00035% (or ₹0.35 per lakh) |
|
Currency – Options |
0.035% (or ₹35 per lakh) |
0.0311% (or ₹31.1 per lakh) |
|
BSE |
||
|
Equity Delivery |
0.00375% (or ₹3.75 per lakh) |
0.00375% (or ₹3.75 per lakh) |
|
Equity Intraday |
0.00375% (or ₹3.75 per lakh) |
0.00375% (or ₹3.75 per lakh) |
|
F&O – Futures |
0 |
0 |
|
F&O – Options |
0.0495% (or ₹49.5 per lakh) |
0.0325% (or ₹32.5 per lakh) |
|
Currency – Futures |
0.0009% (or ₹0.9 per lakh) |
0.00045% (or ₹0.45 per lakh) |
|
Currency – Options |
0.001% (or ₹1 per lakh) |
0.001% (or ₹1 per lakh) |
|
MCX |
||
|
F&O – Futures |
0.0026% (or ₹2.6 per lakh) |
0.0021% (or ₹2.1 per lakh) |
|
F&O – Options |
0.05% (or ₹50 per lakh) |
0.0418% (or ₹41.8 per lakh) |
|
Segment |
Old STT |
Revised STT |
|
F&O – Futures |
0.0125% on the sell side |
0.02% on the sell side |
|
F&O – Options |
0.0625% on the sell side (on premium) |
0.1% on the sell side (on premium) |
What is the impact of revised charges for F&O trades?
For options: STT increases to 0.1% from 0.0625%, and transaction charge decreases to 0.035% from 0.0495%.
This results in the cost of trades seeing a net increase of 0.02303% or ₹2303 per crore of premium on the selling side on NSE and of 0.0205% or ₹2050 per crore on BSE.
For futures: STT increases to 0.02% from 0.0125%, and transaction charge decreases to 0.00173% from 0.00183%.
This results in a net increase of 0.00735% or ₹735 per crore of futures turnover on the selling side.
You can check out our brokerage calculator to see the new charges.
Kindly make the necessary updation in Zerodha Brokerage Calculator as well w.r.t the revised changes in STT and ETC.