New Delhi, Oct 6 (UNI) The Supreme Court today issued notice to the Central government on a writ petition challenging the constitutional validity of the Securities Transaction Tax (STT), which is levied on the buying and selling of stocks and other securities on Indian stock exchanges under the Finance Act, 2004.

A Bench comprising Justice J.B. Pardiwala and Justice K.V. Viswanathan issued the notice, returnable in four weeks.

“The principal argument canvassed before us is that the Securities Transaction Tax is the only tax levied in the country on the mere act of carrying out a profession and is sought to be levied irrespective of whether a profit is derived or not.

This, according to the petitioner, renders the levy almost punitive or deterrent in nature.

Otherwise, all other taxes

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