I'm writing to you as a user of the Fyers platform, which I recently joined for my investment and trading needs. My Client ID is XV28889
I've noticed a discrepancy in the way your platform applies the Securities Transaction Tax (STT) to Exchange Traded Funds (ETFs), treating them as equities. It has come to my attention that for every ETF transaction, Fyers platform imposes an STT charge of 0.1% on both the buying and selling sides, which appears to be inconsistent.
According to information available on the NSE website, STT is levied on Equity Funds only during the sale of units, and even then, it is at a rate of 0.001% of the selling value. You can verify this information by visiting the official NSE link provided below for clarification.
https://www.nseindia.com/invest/first-time-investor-sebi-turnover-fees-stt-other-levies
I kindly request that Fyers review its STT policy for ETFs to ensure it aligns with industry standards and regulations. Your prompt attention to this matter would be greatly appreciated.