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TMI BlogIndian Stamp (Collection of StampDuty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... xed-floating swap instrument; or (iv) any one of the contracting persons in a floating-floating swap instrument; or (v) borrower of repo on corporate bonds; (c) "collecting agent" means a stock exchange or clearing corporation authorised by it or a depository which is empowered to collect stamp-duty on securities on behalf of the State Government in accordance with the provisions of the Act and these rules; (d) "domicile State" means: - (i) the State of the buyer as it appears in the "permanent address" in India on the settlement day, and in case the same is not available, as it appears in the "correspondence address" in India, as per the records of stock exchange or clearing corporation or depository ; or (ii) in case the State of buyer is not available in the "permanent address" or "correspondence address" in India, the State having the registered office of the member, through whom the trade or transfer was executed, and in case the same is not available, the State having the registered office of the participant or custodian through whom the trade was effected. (e) "first leg of the cash flow" in respect of a swap agreement means the notional or gross value of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sub-section (1) of 9A of the Act in respect of sale of any securities made through the stock exchange including sale in respect of any listed units of any registered pooled arrangements or scheme, or tripartite repo, shall be collected on the settlement day, by a stock exchange or clearing corporation authorised by it, at the rates specified in Schedule I of the Act, from the concerned persons specified in section 29 of the Act. (2) In case of option instruments including instruments with zero or near zero premium, the buyer of the option contract has to clearly identify premium payable by him on each constituent transaction and report it to the collecting agent. (3) In case of the transactions arising from tender offer, open offer or offer for sale or private placements executed through stock exchange, the stamp-duty shall be collected from the offeror, on the market value of the security being acquired or sold out, at the offer price, once the offer is successfully completed. (4) In case of transactions in securities reported to a stock exchange, the stamp-duty shall be collected on the entire sale consideration when transfer is reported, even if the consideration is paid i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n place a system for,- (a) identifying market transfers and sale consideration; (b) mandatory disclosure of the reasons for transfer of securities in its system and the consideration amount, if applicable, whether to be paid in full or in part, or in instalments to be paid in future. (5) If the consideration is paid in part or in instalments, stamp-duty shall be collected by the depository on the entire sale consideration when a transfer is effected. (6) A depository shall intimate the stock exchange or clearing corporation as the case may be, about those dematerialised transfers, which may have to be later reported to the stock exchange or clearing corporation, on which stamp-duty has already been collected by it. (7) In the case of transfer of securities pursuant to invocation of pledge, duty shall be collected from the pledgee on the market value of the securities. 6. Collection of stamp-duty by depositories from issuer.- (1) The stamp-duty leviable under clause (c) of sub-section (1) of section 9A of the Act on creation of new security and change in records in the depository upon issue of securities shall be collected from issuer before executing any transaction in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l communications with the principal officers for the purposes of collection of stamp-duty in accordance with these rules. (6) The collecting agent shall appoint a principal officer within fifteen days from the date of publication of these rules or within fifteen days of a notification issued under sub-clause (ii) of clause (27) of section 2 of the Act. (7) The collecting agent shall take all necessary steps to implement the provisions of the Act and these rules and also disseminate the same on their websites. (8) The stamp-duty collected on behalf of State Government shall not be utilised by any collecting agent for any other purpose and shall be transferred to the State Government along with interest earned on such amount, if any. 8. Return of stamp-duty.- (1) The collecting agent shall submit a return of stamp-duty collected on various transactions to the State Government including details of defaulters in the Form appended to these rules on a monthly basis to be furnished manually or electronically within seven days of the succeeding month. (2) The collecting agent shall furnish a consolidated return of stamp-duty collected during a financial year manually or electron ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of stamp-duty collected: Sl. No Security Code Nature of the security (debenture, share, etc.) Value of transactions on which stamp-duty is leviable Rate of Stamp-duty applied Total billed amount of stamp-duty Total stamp-duty collected Total stamp-duty not recovered Remarks, if any Details of transfer of stamp-duty: Sl. No. Total Stamp-duty collected (A) Amount of facilitation charges deducted (B) Total Amount transferred to the State Government (A-B) Details of defaulters: Sl. No. Details of the defaulters Remarks, if any Name Address PAN VERIFICATION I, ________________ (full name in block letters), son/ daughter of ___________ solemnly declare to the best of my knowledge and belief that the information given in this Form is correct and complete and that the total value of stampduty collected on the transactions and other particulars shown therein are truly stated and the same are in accordance with provisions of Part AA of Chapter II of the Indian Stamp Act, 1899 (2 of 1899) and the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019. I further declare that I am making this return in my ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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