Please let me know whether any Stamp Duty is applicable on allotment of shares in a company in the State of Gujarat & Maharashtra....If yes, then what are the rates of Stamp Duty?
Rushabh Shah (Partner) (43 Points)
20 March 2010Please let me know whether any Stamp Duty is applicable on allotment of shares in a company in the State of Gujarat & Maharashtra....If yes, then what are the rates of Stamp Duty?
CS Snehal
(Compliance Manager)
(346 Points)
Replied 20 March 2010
In gujarat it is Re. 1 for Rs. 1000/-.
On Face Value or issue price whichever higher.
Please correct me if I am wrong.
Rasesh
(CS CWA MBA (Fin) B.Com LL.B (Spl))
(6501 Points)
Replied 21 March 2010
Agree with Snehal. The only change, it is the value of shares that has to be considered. Value of shares means the market value in case of listed companies. In case of unlisted companies, unless the valuation is questioned, it can be safely taken as the issue price (with premium) or the face value whichever is higher.
Rasesh
(CS CWA MBA (Fin) B.Com LL.B (Spl))
(6501 Points)
Replied 21 March 2010
Agree with Snehal. The only change, it is the value of shares that has to be considered. Value of shares means the market value in case of listed companies. In case of unlisted companies, unless the valuation is questioned, it can be safely taken as the issue price (with premium) or the face value whichever is higher.
JAYDEEP N THANAWALA
(PRACTISING COMPANY SECRETARY)
(21 Points)
Replied 07 November 2014
Will you please inform me from which date the rate of Stamp duty is changed?
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