When you trade, you pay: (1) brokerage, (2) STT, (3) exchange + SEBI charges, (4) GST, (5) stamp duty, and (6) DP charges on delivery sell (~₹15-20). Discount brokers cut only item 1 — the rest go to the government and depositories regardless of broker.
What actually happens in a delivery trade
Five steps from the order you tap to the shares sitting in your demat. Each charge in the table below lands at one of these steps — which is why the bill looks the way it does.
- 1.You place the order. The broker passes it to the exchange. Brokerage is charged here — and this is the only line the broker controls. Stamp duty is also paid, on the buy side.
- 2.The exchange matches it. A seller wants the same stock at the same price, and the trade happens. STT, the exchange transaction charge and SEBI’s turnover fee are levied here, on the trade — not by the broker.
- 3.T+1 settlement. The money and the shares change hands the next working day. Nothing new is charged at this step — the levies above were already collected.
- 4.The shares sit in your demat. Holding them costs nothing per trade. The yearly AMC is what you pay for keeping the demat open at all.
- 5.You sell, and the DP charge bites. Delivery shares leaving your demat cost a DP charge, per scrip. GST is charged on the brokerage, exchange, SEBI and DP legs along the way.
Illustration. The panels carry no figures on purpose: the amounts, the rates and who sets each charge are in the table below, where they can be checked.
What to compare
- Delivery: ₹0 at Zerodha/Dhan vs ~₹20/order elsewhere.
- Intraday/F&O: flat ~₹20/order at most discount brokers.
- AMC + opening: ₹0–₹300/year.
Use our brokerage calculator and the broker comparisons before opening an account.
Educational content, not financial advice.
| Charge | What it is | Who sets it |
|---|---|---|
| Brokerage | The broker's own fee for executing the order | The broker |
| STT (Securities Transaction Tax) | Statutory tax on the transaction, levied by the government | Statute |
| Exchange transaction charge | The exchange's own fee on turnover | The exchanges |
| SEBI turnover fee | ₹10 per crore of turnover, passed through | SEBI |
| Stamp duty | Levied on the buy side only | Statute |
| DP charges | Per-scrip charge when delivery shares leave your demat on a sell | The depositories |
| GST | 18% on brokerage, exchange, SEBI and DP charges | Statute |
Scroll the table sideways for more →
What a ₹1 lakh delivery round trip actually costs
100 shares bought at ₹1,000 and sold at ₹1,000, at a discount broker with zero delivery brokerage. Because the price is unchanged, the entire bill is cost.
- STT₹20083.1%
- Exchange transaction charge₹6.142.6%
- SEBI turnover fee₹0.2<0.1%
- Stamp duty₹156.2%
- DP charge₹15.346.4%
- GST₹3.91.6%
Total charges: ₹240.58
Computed with the same function as the site's brokerage calculator. Rates follow the statutory stack used there: STT 0.1% on both sides of a delivery trade, exchange transaction charge 0.00307% of turnover, SEBI ₹10 per crore of turnover, stamp duty 0.015% on the buy, DP charges ₹15.34 per scrip on the delivery sell, and 18% GST on brokerage, exchange, SEBI and DP charges. Broker-specific brokerage is excluded because this example assumes ₹0.