Stamp Duty And Corporate Restructuring Regime In India: A Glimpse

To read the article on Mondaq, click here. Stamp Duty Legislation and its Significance in State Revenue With an outgrowth in mergers and amalgamations happening across the Indian market, the State Government has been exercising its power to levy specific stamp duties on these transactions under the Indian Stamp Act, 1899. The Hon'ble Supreme Court of India has classified mergers, demergers, amalgamations, and other corporate transactions within the category of 'conveyance', defined under Section 2(10) of the Indian Stamp Act, 1899 and has provided that State Government may prescribe/levy specific stamp duty rates in different States based on market value of the...

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