New taxes in India are like the camel that pokes its nose into the tent—seemingly small at first, but before you know it, the entire beast has taken over. STT followed a similar pattern, creeping up over time. It is now taking a shark bite out of your income.In January 2025, Securities Transaction Tax collections had already surpassed last year’s budget of ₹370 billion, touching ₹445 billion. STT has chipped in with sizeable hauls for the government since its introduction on Oct 1, 2004: Around ₹83 billion in the early years, ₹166 billion in 2020-2021, ₹187 billion in 2021-2022, ₹249 billion in 2022-2023, ₹445 billion in 2023-24 and so on. STT is now a rare silver lining for the government amidst bleak macros, missed disinvestment targets, and slower growth in GST.
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