Broker software for  Commodity market – iLedger is updated for the new notifications from Commodities Exchanges viz. MCX, NCDEX, ACE, UCX etc. related to the Commodities Transactions Tax ( CTT). All clients have processed the trades in iLedger successfully.

India, the world’s biggest buyer of gold, will levy 0.01 percent commodities transaction tax on futures contracts of non-agricultural commodities like precious, base metals, oil and gas, from July 1, 2013 the finance ministry said in a statement. The tax was proposed in the budget in February. India has 21 commodity bourses, including six operating at the national level. Foreigners are still not allowed to trade in futures, but can buy stakes in commodity exchanges.

Commodities transaction tax (CTT) is a tax similar to Securities Transaction Tax (STT), levied in India, on transactions done on the domestic commodity derivatives exchanges. Like all financial transaction taxes, CTT aims at discouraging excessive speculation, which is detrimental to the market and to bring parity between securities market and commodities market such that there is no tax / regulatory arbitrage