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India May Cut Share Tax Despite Lower Collections, Times Says

Nov. 7 (Bloomberg) -- 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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