With the objective of bringing uniformity in the stamp duty levied on securities transactions across states, the Government of India amended the Indian Stamp Act 1899 (revised Act), through Finance Act, 2019, and the relevant Stamp Rules, 2019, were notified on December 10, 2019. The revised Act has come into effect from July 1, 2020. Under the revised Act, CCIL has been appointed as collecting agent for foreign exchange, interest rate and credit derivative transactions which are reported to it.

The Government has also released a set of Frequently Asked Questions on the revised Act.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/7