A contract note is a confirmation of all your trades done on a particular day. Whenever you trade, a contract note will be sent to your registered email ID within 24 hrs. This is as per the format prescribed by Securities and Exchange Board of India (SEBI).

A contract note is broadly divided into three parts:

  1. User information
  2. Trade information
  3. Charges

User Information

This contains basic information such as the date for which this contract note was created, the trading code, user's name, and other details.


Trade information

All the trade-related information will be shown here. Here are some important points you need to pay attention to:

  • When you fill a single order and multiple trades happen at different prices, then there will be multiple entries in the contract note
  • Since Upstox is a discount broker, the brokerage is calculated per order and not per trade. In the contract note, it is grouped together and shown at the end. See how brokerage is calculated
  • Net rate and the gross rate will be same as brokerage charges are shown as a separate entry
  • The total amount that is due by the user (per trade) is shown in the 'Net Total' column. Sell values are shown as -ve and buy values are shown as +ve
  • Remarks - Additional information about the position is given here. You can know whether it is a carry-forward position or a brought-forward position. This is applicable for derivatives trades only

    • B/F - Brought forward: This is an accounting terminology which is used to calculate the marked-to-market (MTM) value of the future. Its calculation is based on the last trading day's closing price of the scrip
    • C/F - Carry forward. This is an accounting terminology which is used to calculate the marked-to-market value (MTM) of the future. Its calculation is based on that day's closing price of the scrip
  • Closing rate is applicable only for derivatives. It is basically the rate at which the scrip has closed that day
  • In the end, pay-in and pay-out obligation, minus the charges are shown

Futures contract note

Equity contract note


This section has all the charges a user has to pay for the orders placed in the selected segment for a particular day. The charges can be broadly categorised into:

1. Transaction changes
This includes the:

  • Securities/Commodities transaction taxes (STT/CTT)
  • Exchange and clearing transaction charges
  • Stamp duty
  • SEBI fees

For detailed transaction charges and for BSE charges, please click here

2. Margin - the margin difference is calculated based on the T and T-1 closing prices.  It includes the:

  •  Exposure margin
  • Span margin

You can use our Brokerage Calculator to calculate the brokerage and other charges levied for individual orders.

3. GST

  • 18% GST is applicable on brokerage and other charges for all users


  1. Special charges like Account opening fees, Demat annual maintenance charges, Auto square-off charges, fines, MTF interest, fund transfer charges for net banking, and call-n-trade charges etc. will not be shown in the contract note. Please check ledger for such charges.
  2. CGST + SGST will be levied if you are from Maharashtra. Otherwise, IGST/UGST will be levied.