TMI Blog2018 (9) TMI 463X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by CBDT that it does not differentiate between present transactions which are delivery based and derivative transactions. It has been clarified that the rate of both the transactions would be the same. We find that the clarification from CBDT takes care of the situation. Once CBDT has clarified the position, all stake holders including Respondent No.2 and the members of the Petitioner – Association are now aware as to what is the amount of STT payable on the transactions which are subject matter of the present Petition. In that view of the matter, it will not be difficult for the members of the Association to recover the amount of STT from the parties who were engaged in the derivative transactions. The said communication dated 27th A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovided that, in the event if the CBDT issues any clarification or amendment in this regard in addition to or contrary to the above position, Respondent No.2 had reserved the right to recover such additional STT from the members effective from the date as may be notified by the CBDT. 3] It was the grievance of the Petitioner that there was some anomaly with regard to STT payable on future transactions. It was their grievance that, in the event, CBDT in future comes with a policy that rate of STT on such transaction is higher than what is provided in Circular dated 17th July, 2018, the members of the Association would be put to great prejudice inasmuch as they would not be in a position to recover the said STT from the parties whose tra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or transfer of shares. It further states that, the rates of STT as applicable to such deliverybased equity transactions shall also be applicable to such derivative transaction. As such, the position is clarified by CBDT that it does not differentiate between present transactions which are delivery based and derivative transactions. It has been clarified that the rate of both the transactions would be the same. 7] We find that the clarification from CBDT takes care of the situation. Once CBDT has clarified the position, all stake holders including Respondent No.2 and the members of the Petitioner Association are now aware as to what is the amount of STT payable on the transactions which are subject matter of the present Petition. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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