Indian Stamp Act, 1899, Other Topics

[Subhash Modi]

I refer to the detailed article published in TMI on 04-02-2019 written by the respected Mr. M. Govindrajan elaborating on the sum and substance of the 2019 amendments to the Indian Stamp Act, 1899.

By virtue of the S.O. 1892 dated August 1, 1999 exercising the powers under Section 9 of the ISA, 1899 the First Schedule entry 13 has been so amended as to exempt stamp duty on bill of exchange drawn up to 90 days sight; drawn on a bank etc.

Mr. Govindrajan is humbly requested if he can search and find the SO 1892 to convey a copy of the SO by email to my ID [email protected].

Any such effort and a response will be highly appreciated,

Posts / Replies

[DR.MARIAPPAN GOVINDARAJAN]

Sorry. I could not able find the said SO 1892. If at any time I obtain I will forward the same to you.

[Subhash Modi]

Thanks a lot for your efforts. We shall wait for an opportunity, to locate it in future.

[YAGAY andSUN]

ORDER New Delhi, the 1st August, 1999, STAMPS S.O. 1892. - In exercise of the powers conferred by Clause (a) of Sub-section (1) of Section 9 of the Indian Stamp Act, 1899 (2 of 1899), the Central Government, hereby remits the proper stamp duty chargeable under Article 13 of the Schedule 1 to the said Act in respect of usance bills of exchange, Where-

(a) such bills of exchange are payable not more than three months date of sight;

(b) such bills of exchange are drawn on or made by or in favour of a commercial bank of a co-operative bank; and

(c) such bills of exchange arise out of bona fide commercial or trade transactions.

No. 40/89. Stamps. F. No. 33/13/89-ST B.R. Mehmi, under Secretary.

[Subhash Modi]

Thanks a lot M/s. Yagav & Sun. This text can be found in the judgement dated 03-03-2006 pronounced by Justice S. J. Vazifdar in the case Antewerpse Diamant Bank NV v/s Kamal & Co reported under 2007 138 CompCas 966 (Bom) = 2006 (3) TMI 796 - BOMBAY HIGH COURT.

I am still searching for a published cop copy of the said SO 1892. If by chance a gazetted version is located, do share with me.

In the meantime many many thanks for your friendly response.

Many regards and wishing you all the best of safety and health during these COVID times.

[YAGAY andSUN]

Dear Sir,

Please click on the appended link:-

https://archive.org/stream/in.gazette.central.w.1989-08-19.25744/25744_djvu.txt

After that press CONTROL +F and fill the 1892. you will get the required notification.

[Subhash Modi]

Very many thanks. I followed your guidance strictly and presto I could locate the Official Gazette and download the relevant page in both .jpg and .pdf formats and saved both on my PC for future use. What a prompt and great help. I value your contribution and shall always remember and cherish this wonderful experience. May God always bless you all there.