Brief Overview:

A draft of the Indian Stamp Bill, 2023 (“Bill”), has been released for comments. This seeks to replace the existing Indian Stamp Act, 1899. This is an opportunity to recommend further changes. Do avail it!

Interestingly:

The Bill provides for provisions for:

1) Digital signatures, attribution of electronic records and electronic signatures (Section 2 (17) of the Bill); and

2) Digital e-stamping / electronically generated impression denoting the payment of stamp duty (Section 2 (18) of the Bill).

JC Key Takeaways:

A 125-year old law is being replaced with a version to be in line with the current market realities. It is to be seen whether this will result in One Nation: One Rate of Stamp Duty.

For further details, please see:

https://www.dor.gov.in/sites/default/files/stamp%20duty%202023.pdf

For any queries/clarifications, please feel free to ping us and we will be happy to chat: