Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) (Second Amendment) Rules, 2020

Last updated: 31 March 2020

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The Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) (Second Amendment) Rules, 2020 have been issued. These rules amend the 2019 rules by changing the effective date for the collection of stamp duty through stock exchanges, clearing corporations, and depositories. The new effective date is now the 1st of July 2020, postponed from the original 1st of April 2020.

MINISTRY OF FINANCE

(Department of Revenue)

NOTIFICATION

New Delhi, the 30th March, 2020

G.S.R. 226(E).—In exercise of the powers conferred by section 73A of the Indian Stamp Act, 1899 (2 of 1899), the Central Government hereby makes the following rules to further amend the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019, namely:-

(1) (1) These rules may be called as the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) (Second Amendment) Rules, 2020.

(2) They shall come into force on the date of their publication in the Official Gazette.

(2) In the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019, as amended by the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) (Amendment) Rules, 2020, in rule (1), in sub-rule (2), for the words and figures “1st day of April 2020” the words, figures and letters “1st day of July 2020”shall be substituted.

[F. No. S.33013/3/2019 ST-I, DOR]

RITVIK PANDEY, Jt. Secy.

Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 901(E), dated the 10th December, 2019 and first amendment published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide notification number G.S.R. 19 (E) dated the 8th January, 2020

FAQ :

These are new rules that further amend the existing Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019.

The primary change is the postponement of the effective date for collecting stamp duty through stock exchanges, clearing corporations, and depositories.

The new effective date is the 1st of July 2020.

The previous effective date was the 1st of April 2020.

These rules come into force on the date of their publication in the Official Gazette.