India May Cut Share Tax Despite Lower Collections, Times Says

India’s finance ministry may lower the securities transaction tax, or STT, although collections have fallen almost 18 percent in the April-October period, the Times of India reported, citing an unidentified official in the department of economic affairs.

Collection from the STT declined to 29.58 billion rupees in the seven-month period because of fewer transactions on the stock exchanges, the report said.

To contact the reporter on this story: Shikhar Balwani in Mumbai at sbalwani@bloomberg.net;

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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