Stamp duty rate on issue of share certificate in Haryana

[Puja Sancheti]

Dear Members,

As I understand there is an uniform stamp duty rate across India of 0.005% on issue of share certificate.

However, In Haryana, Authority is collecting stamp duty @0.1%. 

Why 0.005% is not applicable to Haryana when this is applicable PAN india?

Can somebody help with the appropriate rate to be paid in Haryana along with source of such information.

Regards

Puja

[Ashish Gupta]

need to check for State Notification, which they are claiming has not been issued by state and thus they are extorting this fees

 
AKG & CO
COMPANY SECRETARIES
FCS Ashish Gupta

A-16 Jitar Nagar, Parwana Road

Near Preet Vihar Metro Station, Delhi - 110051

09312210264

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[Premnarayan Tripathi]

I agree. This is the case of Gujarat State too. We’ve to pay stamp duty @o.1% which is applicable since 2006 for physical share certificates.

 

Regards,

 

Premnarayan Tripathi (CS & IP)

PRT & Associates

Company Secretaries

606, 6^th Floor, Shivalik Square

Nr. Adani CNG Pump, 132 Ft. Ring Road

New Vadaj, Ahmedabad – 380013

M: 89800 26497

 

From: csmy...@googlegroups.com <csmy...@googlegroups.com> On Behalf Of Ashish Gupta
Sent: Tuesday, October 17, 2023 7:36 PM
To: csmy...@googlegroups.com
Subject: Re: [CSMysore] Stamp duty rate on issue of share certificate in Haryana

 

need to check for State Notification, which they are claiming has not been issued by state and thus they are extorting this fees

 
AKG & CO
COMPANY SECRETARIES
FCS Ashish Gupta

A-16 Jitar Nagar, Parwana Road

Near Preet Vihar Metro Station, Delhi - 110051

 

09312210264

 

# Stay Safe #Stay Healthy

 

Save Paper Save Trees

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[Puja Sancheti]

Thanks a lot guys. But no one has raised objection yet? notification was issued in 2020 itself and we are still paying heavy duty. I will have to pay 5,70,000 instead of 28,000 as stamp duty.

[Deepak Singhal]

In Haryana stamp duty is still Rs.100 on value of 1 lakh.

To view this discussion on the web visit https://groups.google.com/d/msgid/csmysore/ed4266dc-68c8-4798-b118-a15ce0ac4bf3n%40googlegroups.com.

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Thanks & Regards
CS Deepak Singhal
Deepak Singhal & Associates
(Company Secretaries)

Peer reviewed Unit

Address: Delegatix, Unit No.442, 4th Floor, Tower-B, Spazedge, Sector 47, Gurugram – 122 009 (Haryana)  

Contact Details: 9992693555, 0124-4081643

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[Puja Sancheti]

Thanks Deepakji for confirmation, But what about the amendment for uniform rate of 0.005%?

Have Haryana state has issued any further notification for denying this rate?

[Aditi Jain]

Many states have not released any notification for updated rate and since this matter is under State List they can charge the higher duty as long as they dont release any official notification. What is the use of uniform rate if companies have to pay higher duties. 

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[Puja Sancheti]

Exactly Aditi,  this being state matter, the duty has been collected by the state only but rate of duty should have been 0.005% as notified by central. Is there anyway we can avoid paying state rates?

[Ashish Gupta]

we can collectively make a representation to union Government for asking states to do the needful

atleast we can start something concrete

 
AKG & CO
COMPANY SECRETARIES
FCS Ashish Gupta

A-16 Jitar Nagar, Parwana Road

Near Preet Vihar Metro Station, Delhi - 110051

09312210264

# Stay Safe #Stay Healthy

Save Paper Save Trees

Switch off as you go |Recycle always |  Your child deserves better world
“Excellence is not a Skill,  it is an Attitude”

The information contained in this communication is intended solely for the use of the individual/ entity to whom it is addressed and others authorized to receive it. It may contain confidential or legally privileged information. If you are not the intended recipient you are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by responding to this email and then delete it from your system. The sender is neither liable for the proper and complete transmission of the information contained in this communication nor for any delay in its receipt.

To view this discussion on the web visit https://groups.google.com/d/msgid/csmysore/6dcbb73d-9182-4a2c-b61a-f06631207c78n%40googlegroups.com.

[Puja Sancheti]

Agree!

[BHAVNA SHARMA]

Dear All,

How shall we pay the stamp duty on issue of shares in Panchkula. Is it offline or online. Kindly share the provision and Act name.

And please advise on following matter:

A Private Delhi based Company had issued shares in 2009, 2011 and 2013, but not paid the stamp duty on such share certificate. What will be the penalty for same and if this duty was paid on that time, what was the procedure at that time to pay such duty.

Kindly advise.

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