Securities transaction tax collection in Sept to exceed full year's target

Collections already stand at Rs 12K crore, compared to Budget target of Rs 12.5K crore

Securities transaction tax (STT) collection is set to exceed the Budget target for the full fiscal year in September itself on the back of increased retail participation in the stock market.

STT collections as on September 16 stood at Rs 12,000 crore, compared to the Budget target of Rs 12,500 crore. In fact, it has posted a growth of 50 per cent over the Rs 8,000 crore in the corresponding period of the previous year.

STT mop up in the pre-Covid year of 2019-20 was Rs 6,000 crore during this period. 

“The market is overheated and the positive sentiment around economic recovery is