| Originally posted by :Guest | ||
| " | what was the stamp duty on issue of share certificates in 1998,2001,2002,2006,2008 and what wll be the penalty if suppose we are going to pay all such stamp duty in 2008 on such all above allotments. | " |
| Originally posted by :Guest | ||
| " | what was the stamp duty on issue of share certificates in 1998,2001,2002,2006,2008 and what wll be the penalty if suppose we are going to pay all such stamp duty in 2008 on such all above allotments. | " |
Lineesh James
(Company Secretary)
(30 Points)
Replied 17 September 2008
In Maharashtra, it is one rupee for every thousand rupee or part there of, of the value of shares issued( including premium).
Adhehsive stamp to be used if </= Re.1otherwise impressed stamps to be used.
Lineesh James
(Company Secretary)
(30 Points)
Replied 17 September 2008
| Originally posted by :A K Singh | ||
| " |
In mumbai, the duty is on Document of Share Certificate and not on allotment |
" |
Ms. Poonam has opined in respect of issue of share certificates that stamp duty is payable on the basis of Board Meeting of the company.
I would be greatful for the learned members to give to their legal backing for this stand.
Company Secretary
Archana Dhamecha
(Aerticle)
(0 Points)
Replied 13 October 2008
How much Stamp duty s payable for share certificate in chattisgarh
| Originally posted by :A K Singh | ||
| " | Dear Frns, Our registered office is in delhi but our corporate office and factory is in Haryana.All Directors, CEO other working staff are based only at factory in Haryana.Board meetings and decesion, issue of order are only from Haryana office. For issue of share certificate board meeting is also held in Gurgaon Haryana. Can we we stamp duty on share certificate as per Haryana stamp act OR it is required to be paid as per Delhi act. Please refer case law, book or section in support, if any. Its URGENT REgards A Singh |
" |
c.v.naik
( Director Pvt Ltd Company. )
(49 Points)
Replied 22 September 2009
On this subject , I like to know within how many days one should affixed stamp duty on share certificate to be issued from the date of allotment and in case of delay whether penalty in the form of additional duty attract.
Nita Bhatia
(Management Executive)
(22 Points)
Replied 26 November 2009
|
Hi ,
i need info on stamp suty to be paid in following state on issue of share certificate ...
if borad meeting is held in delhi , chennai ( Tamil nadu ) and Hydrabad ( Andhra pradesh )
It is very urgent plz confirm |
||
| " | thanks to all for valuable inputs. One more query for u. 1. Is this compulsory to get share certificate stamped with SDM office. 2. Or we can also use physical stamp, and affix on plain paper as amount is quiet high (lacs). 3. Whether adhseive stamp or REVENUE STAMP can be sued. Regards |
" |
RATE OF STAMP DUTY ON SHARE CERTIFICATES.
S.No States Rate of duty
1. Andhra Pradesh Thirty Paisa/Since 30paisa Stamp not available , Rs. 1 Revenue stamp irrespective of amount ,(on Folio)
2. Arunachal Pradesh Rs. 5.00 Revenue stamp irrespective of amount
3. Haryana Forty Paisa/Since 40paisa Stamp not available , Rs. 1 Revenue stamp irrespective of amount ,(on Folio)
4. Himachal Pradesh Forty Paisa/Since 40paisa Stamp not available , Rs. 1 Revenue stamp irrespective of amount ,(on Folio)
5. Karnataka Rs,1 for every 1000 Rs, or a part thereof of the value of the share, scrip or stock.
6. Kerala Fifty Paisa irrespective of amount ,(on Folio)
7. Maharashtra Rs,1 for every 1000 Rs, or a part thereof of the value of the share, scrip or stock..
8. Manipur NA
9. Nagaland Forty Five Paise Revenue stamp irrespective of amount
10. Orissa One rupee Revenue stamp irrespective of amount
11. Punjab Ten Rupees [40 n.p. under act 34 of 1960 and 25 n.p. prior thereto irrespective of amount ,(on Folio)
12. Rajasthan One rupee for every one thousand or a part thereof of the value of the shares, scrip or stock
13. Tripura As of Assam
14. Uttar Pradesh One Rupee (irrespective of face value market value)
15. National Capital Territory of Delhi One rupee for every one thousand or a part thereof of the value of the shares, scrip or stock
16. Tamil Nadu Rs. 1 Revenue stamp irrespective of amount
17. Madhya Pradesh NA
18. Gujarat One rupee for every one thousand rupees or a part thereof of the value of the share, scrip or stock.
19. Bihar NA
20. West Bengal Rs,1 for every 1000 Rs, or a part thereof of the value of the share, scrip or stock.
21. Jharkand NA
22. Chhttisgarh NA
23. J&K NA
24. UttaraKhand NA
25. Meghalaya NA
26. Goa One rupee for every one thousand rupees or a part thereof of the value of the share, scrip or stock.
27. Assam NA
28. Sikkim NA
29. Mizoram NA
Union Territories
1. Chandigarh Forty paisa Forty Paisa/Since 40paisa Stamp not available , Rs. 1 Revenue stamp irrespective of amount ,(on Folio)
2. Andaman and Nicobar Islands NA
3. Dadra and Nagar Haveli One rupee for every one thousand rupees or a part thereof of the value of the share, scrip or stock.
4. Daman and Diu NA
5. Lakshadweep NA
6. Puducherry NA
Best Regards,
Neha Jain
Abhishek Aditya
(Company Secretary)
(21 Points)
Replied 26 September 2014
Stamp Duty is levied on the instrument but not on the action.
Three things matters in case of allotment of share capital, issue of share certificate and payment of stamp duty:
1. State where Board Resolution has been passed for allotment (holding Board Meeting only enables for the allotment, actaul execution of instrument is yet to be taken place at the time of issuance of share certificate);
2. Place of execution of share certificate;
a. siging by the Directors, CS/Authorised Person
b. Common Seal Affixation
3. Entry in the statutory registers (register of allotment/ register of members)
Since Companies Act, 1956/2013 mandates that common seal and statutory registers must be kept at registered office of the company which may or may not be the same state where meeting of board was conducted. Further to note, execution of share certificate (instrument as per Indian Stamp Act on which stamp duty liability occurs) complete only after affixing common seal onto it followed by entry in the register of members before issuing share certificate.
Now, if the company by following good corporate governance and in compliance of Indian Stamp Act pass such resolution in compliance of aforesaid point 1-3, stamp duty, as per indian stamp act must go only to the state where the actual execution of share certificate took place. Obviously the intention is not to evade stamp duty by holding meeting in the state (co-incidently having less stamp duty) other than the state where regsitered office is situated. If the Company holds every board meeting at a definite place (other than registered office) for all agenda (not particulary for the allotment case) the good intention is itself very clear.
Others intellect on this issue contrary to the above are solicited.
Regards
Abhishek
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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