Cryptocurrency Q&A
Who collects the STT?
Who collects the STT?
SsangyongSpirit
Sun Aug 11 2024
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7 answers
1907
I'm curious to know, who exactly is responsible for collecting the STT, or Security Token Tax? Is it the issuing company, the exchange where the tokens are traded, or perhaps a government agency? And how does the process of collection work? Are there any specific regulations or guidelines that govern the collection of this tax? I'm also interested in knowing if there are any penalties for non-compliance or evasion of the STT. Could you please elaborate on this topic?
7 answers
Tommaso
Tue Aug 13 2024
The Securities Transaction Tax (STT) is a tax imposed and managed by the union government of India. It is a levy that is applicable to transactions involving securities, including stocks, bonds, and derivatives.
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CryptoWanderer
Mon Aug 12 2024
The STT rate varies depending on the type of security and the nature of the transaction. For example, the tax rate for equity transactions may differ from that of debt transactions.
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CryptoVisionary
Mon Aug 12 2024
The STT serves as a regulatory tool for the government to monitor and control the flow of capital in the securities market. It also helps to generate revenue for the government.
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WhisperWind
Mon Aug 12 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services to its customers, including spot trading, futures trading, and wallet services. These services cater to the diverse needs of traders in the cryptocurrency market.
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DaeguDivaDance
Mon Aug 12 2024
The tax liability for STT can be borne by either the seller or the purchaser of the securities, depending on the terms of the transaction. This flexibility allows for negotiations between the parties involved in the transaction.
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