It appears that MCX good times are going to see some pain as reliable sources have confirmed that commodity transaction tax is being proposed in forthcoming budget. This is a bad news for volumes at MCX which can also affect the profitability of MCX exchange.
Verdict
Commodity transaction tax (CTT) on commodities derivatives in the line of security transaction tax (STT) is going to have a negative impact on commodity market and we hope that good sense prevails and they give some more time for this market to mature.
Check out daily commodity market timing here.
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