The Finance Bill, 2019 (Finance Bill) has proposed certain amendments to the Indian Stamp Act, 1899 (Stamp Act). The amendments shall come into effect on such date that may be notified in the Official Gazette by the central government.
In this update we have given an overview of the key amendments proposed by the Finance Bill.
The Finance Bill seeks to inter alia introduce certain amendments to the Stamp Act that proposes to align the stamp duty regime applicable to financial securities transactions in India.
The key reforms proposed to the Stamp Act in the Finance Bill are as follows: