Payment of stamp duty on issue of share certificates

Hello!

We cannot seem to get a single opinion on whether Stamp duty is supposed to be paid on issue of share certificates.

One view is, as per the Stamp Act, stamp duty is payable on issuance of share certificates.

While another one being that, since stamp duty has been paid while increasing the authorised capital, the same, if paid, on Share Certificates as well, shall amount to payment of double duty.

Please share your opinions and help us solve this confusion at the earliest. 

Thanks in advance!