Stamp duty planning, instrument structuring for duty optimisation, adjudication defence, refund applications and inter state stamp duty coordination.
Short, direct, on the record.
Yes, for securities traded on stock exchanges. The 2019 amendment to the Indian Stamp Act centralised stamp duty collection on securities transactions (shares, debentures, futures, options) at uniform rates, collected by stock exchanges and depositories. Off market transfers of unlisted shares remain subject to state rates.
A slump sale involves transfer of a business as a going concern for a lump sum. The stamp duty treatment depends on whether the transaction is characterised as a conveyance of immovable property (attracting ad valorem duty) or a transfer of business. State practices vary, and structuring the instrument correctly is important.
The Indian Stamp Act places the primary obligation on the person drawing or executing the instrument. However, commercial agreements can contractually allocate stamp duty responsibility. Courts have upheld contractual allocation in most states.
An unstamped or insufficiently stamped instrument is inadmissible in evidence in any court and cannot be acted upon by any public officer. If impounded, the deficient duty plus a penalty of up to 10 times the deficiency must be paid before the instrument can be admitted.
Share the transaction type, instrument and the state or inter state context for a preliminary assessment.