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Stamp duty

Pvt ltd 382 views 1 replies

shristi

executive

96 Points Joined May 2012

Hi Guys,

Can anyone please help me with the procedure to get refund of stamp duty already paid.

Below is the case:

A private Company had decided to issue shares pursuant to a deal. It had got the share certificates franked thereby paying stamp duty on them. But due to certain circumstances, the deal got cancelled. Can the Company get a refund of the share certificates?

If yes, Please share the procedure at the earliest.

Thanks in advance.

Replies (1)

nidhigoel89

Company Secretary

596 Points Joined December 2009

Hello,

Liablity to pay stamp duty arises once the allotment is made, and once the allotment is made there is no way to cancel or to waive the allotment.

In your case, as it seems that stamp duty has paid before allotment which is not a correct procedure, so in your case there is no way to get the stampy duty refund on ground on not alloting the shares.

Thanks!