Saturday, July 14, 2012

MCX gets final approval for stock exchange

Securities and Exchange Board of India(SEBI) gave permission for MCX-SX to start trading on equities, equity futures & options, interest rate futures and wholesale debt segments. Currently the main  stock exchanges in India are National Stock Exchange (NSE) and Bombay Stock Exchange(BSE) which will have good competition from MCX-SX. It is owned by Multi Commodity Exchange(MCX).

Sending and receiving forex is now free of service tax

According to a Central Board of Excise and Customs (CBEC) notification sending or receiving foreign exchange will not attract service tax which will benefit exporters, families of students studying abroad and people receiving remittances from abroad.

Worth reading