Until now, stamp duty was charged to clients according to your state of residence, therefore the stamp duty varies from state to state. From Jan 9th, 2020 stamp duty will be charged with a uniform rate across all states and the rate at which it will be charged will be varied from segment to segment. Also, the prescribed stamp duty will be collected from the clients by brokerages and paid to the respective exchanges to pass it to the government.
New Applicable Stamp Rates
As per the circular, new rates are only on the Buy-side and not on the Sell-side or either. For the resident of few states like Maharashtra, Gujrat, Delhi, Kerala or Madhya Pradesh where stamp duty was in the range of ₹ 100 to ₹ 200 per crore or states like Telangana, Haryana, UP etc will be negatively affected due to hike or removal of the maximum cap on the stamp duty.
For more details on the stamp duty check out our Brokerage Calculator, applicable rates will be updated by 9th Jan.
Update: With reference to the latest circular from the exchanges for Equity, Futures and Options, Currency and Commodity, the applicability of the earlier circular w.r.t. Collection of the stamp duty has been revised from January 9, 2020 to April 1, 2020. We request readers to take note of the same.
Update: With reference to the latest circular, collection of the stamp duty revised from April 1, 2020 to July 1, 2020.