Effective Date for Levy of Stamp Duty on Financial Securities Extended

The Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019 pertaining to payment of stamp duty through stock exchanges and depositories will be effective from July 01, 2020 instead of the earlier notified date of April 01, 2020. 

Accordingly, the amendments made to the Stamp Act, 1899 vide Finance Bill, 2019, to introduce a centralised system of stamp duty with a unified rate for all financial securities transactions, such as (a) issuance of debentures; (b) government securities; (c) securities other than debentures on delivery basis and non-delivery basis; and (d) repo on corporate bonds, will now become effective from July 01, 2020.