Description

BSE notifies trading members about the debit of SEBI turnover fees with 18% GST for January 2026 across all segments on February 04, 2026.

Summary

BSE has notified trading members that SEBI turnover fees for January 2026 across all segments (Cash, Derivatives, Currency Derivatives, Commodity Derivatives, Interest Rate Derivatives, New Debt Segment, Repo Segment, and EGR segment) will be debited along with 18% GST on February 04, 2026. The fees will be debited from the respective settlement (valan) account or Exchange dues account of trading members.

Key Points

  • SEBI turnover fee is subject to 18% GST effective from July 18, 2022
  • Fees will be debited on the 3rd working day of next month (February 04, 2026)
  • Turnover details and fee amounts will be available in EXTRANET by February 03, 2026
  • GST at 18% is payable on the amount mentioned in column no. 26 of TF2A file
  • Invoices will be available for download in EXTRANET by February 03, 2026
  • Separate debit entries will be made for SEBI turnover fees with appropriate narration
  • Members must ensure sufficient funds are available in their settlement/Exchange dues accounts

Regulatory Changes

No new regulatory changes. This notice reiterates the existing requirement of 18% GST on SEBI turnover fees, which has been applicable since July 18, 2022 (as per Exchange notice no. 20251231-1).

Compliance Requirements

For Trading Members:

  • Ensure sufficient funds are available in settlement account (valan account) or Exchange dues account by February 04, 2026
  • Review turnover details and fee amounts in EXTRANET (current date > EQ > Transaction) by February 03, 2026
  • Download invoices from EXTRANET path: Periodic files > 2026 > ZIP file named SEBIJAN2026.Member_Code for January 2026
  • Verify GST calculation on column no. 26 of TF2A file
  • Monitor account for debit entry on February 04, 2026

Important Dates

  • February 03, 2026: Turnover details, fee amounts, and invoices available in EXTRANET
  • February 04, 2026: SEBI turnover fees including 18% GST debited from settlement/Exchange dues accounts

Impact Assessment

Operational Impact: Trading members need to ensure adequate liquidity in their settlement accounts to accommodate the monthly SEBI turnover fee payment plus 18% GST. Failure to maintain sufficient funds could result in payment defaults and potential regulatory consequences.

Financial Impact: The 18% GST increases the effective cost of SEBI turnover fees by 18% compared to the base fee. This applies across all trading segments including Cash, Derivatives, Currency Derivatives, Commodity Derivatives, Interest Rate Derivatives, New Debt Segment, Repo Segment, and EGR segment.

Market Impact: Minimal direct market impact as this is a standard monthly operational requirement affecting trading member cost structures rather than market operations or trading activities.

Impact Justification

Regular monthly fee collection notice affecting all trading members. Medium importance as it requires ensuring adequate funds in settlement accounts to avoid payment failures. Standard operational compliance requirement.