Can Adhesive Stamps are affixed on Share Certificates for Stamp Duty

[mvijayas...@gmail.com]

Dear All,

Please clarify Can Adhesive Stamps are affixed on Share Certificates for Stamp Duty.

Thanks in Advance

[mvijayas...@gmail.com]

Please clarify

[CS V Kartik]

No you need to get it franked by paying stamp duty online or by paying cash at the counter

[mvijayas...@gmail.com]

In madhya pradesh also

[Mvijay Vijay]

Please advice

On Saturday, 14 April 2018, <mvijayas...@gmail.com> wrote:

In madhya pradesh also

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[mvijayas...@gmail.com]

Please advice

[CS V Kartik]

I was talking about Maharashtra. Although I’m not aware about Madhya Pradesh, but according to me it is always advisable to get the same franked on the share certificates for which you need to check as to which banks do franking on share certificates (in the place you are residing). Some banks they accept cash for the stamp duty payable on it & do the franking within few minutes

[DEEPAK SADHU]

In Maharashtra are stamps allowed to pay stamp duty as I have a client where the stamp duty has been paid via stamps...Confirm if it's correct ?

Regards

 

CS Deepak Sadhu

DEEPAK SADHU & Co,

Company Secretaries

B.Com, MBA (Finance), ACS

Bangalore


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On Mon, Apr 16, 2018, 21:02 CS V Kartik <karv...@gmail.com> wrote:

I was talking about Maharashtra. Although I’m not aware about Madhya Pradesh, but according to me it is always advisable to get the same franked on the share certificates for which you need to check as to which banks do franking on share certificates (in the place you are residing). Some banks they accept cash for the stamp duty payable on it & do the franking within few minutes

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[CS V Kartik]

I'm not sure since I have not come across such cases. As far as my knowledge is concerned it's not correct. Recently in Mumbai, I did online payment for stamp duty of ₹1 & got the same franked

[CS V Kartik]

Because here in Maharashtra, share certificates will be considered to be vaild only after franking

[DEEPAK SADHU]

So in Mumbai we can frank the certificates right....Is franking enough or even online payment to be made

Regards

 

CS Deepak Sadhu

DEEPAK SADHU & Co,

Company Secretaries

B.Com, MBA (Finance), ACS

Bangalore


“IF YOU THINK COMPLIANCE IS EXPENSIVE, TRY NON-COMPLIANCE”

Web:     www.deepaksadhu.com

Mobile:  98860 - 96664 / 86185 - 88450 / 88843 - 11947

Email:    dee...@deepaksadhu.com

             csdeepa...@gmail.com

csdeep...@gmail.com


Pvt Ltd, Public Ltd Company/LLP/NBFC/Chit fund Companies Registrations | Consultation on Companies Act, 2013 | Start-ups advisory services | Secretarial Compliance & Services | ROC, NCLT, RD Compliances | Corporate Governance | GST Registrations & Returns | XBRL Filings | Listing Regulation Compliances | RBI / FEMA Compliances | Closure of Companies/LLP's |Labour Laws licence and Compliance | Trademark Registrations

 

"Please reduce the usage of papers, save trees, save earth from global warming and save our next generations"

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This e-mail and any attached files contain information intended for the exclusive use of the individual or entity to whom it is addressed and may contain information that may be legally privileged.  If you are not the intended recipient, you are hereby notified that any use, dissemination, or reproduction is strictly prohibited and may be unlawful. If you are not the intended recipient, please contact the sender by return e-mail and destroy all copies of the original message.

On Tue, Apr 17, 2018, 21:06 CS V Kartik <karv...@gmail.com> wrote:

Because here in Maharashtra, share certificates will be considered to be vaild only after franking

[CS V Kartik]

In Mumbai:
1) You have to first make the payment of stamp duty online via https://gras.mahakosh.gov.in/echallan/
2) After the payment is done, a challan will be generated
3) Then you need to prepare 2 sets of acknowledgement letter to General Stamp Office, Fort, Mumbai requesting them to consider & frank the share certificates
4) Submit the share certificates (blank) along with the documents mentioned in (3) & (2) above. You need to submit the same at the above office between 10.30 to 1.30 pm
5) For collecting the franked certificates, you need to go there between 3.30 to 4.30 pm

[CS V Kartik]

I forgot to mention one important thing in my reply that for collecting the franked certificates, you need to go to the stamp office, the next day between 3.30 pm to 4.30 pm

[GIRIJA NAGVEKAR]

As far as stamping share certificate are concerned, each state has its own process.

Only in few states the process if followed as mentioned by the learned member.

In Goa , till date the adhesive revenue stamps are affixed as no bank here does franking of share certificates, neither its done my state revenue department.

Stamp duty is state specific, but  the process should be centralised in all states , so that state government receives its revenue instead of affixing stamps on the share certificate.

Regards,

Girija

On Wed, Apr 18, 2018 at 8:51 PM, CS V Kartik <karv...@gmail.com> wrote:

I forgot to mention one important thing in my reply that for collecting the franked certificates, you need to go to the stamp office, the next day between 3.30 pm to 4.30 pm

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CS Girija Nagvekar

Company Secretary -in practise
9960285296

[Shital Bagmar]

In Maharashtra can we use adhesive stamp for paying if not can any one share link of stamp act or clause where it mentioned from which date use of adhesive stamps banned.

As for share transfer now days stamp duty comes in RS 1 or 2 and franking facility was surrendered by banks for many days.

 and in below method  if we not from mumbai how to execute from 3rd point what is process and for 5 Rs stamp duty payment its time consuming

can any one guide on same in detail as in routine we have to face issue of share certificate and need to pay stamp duty on which we earlier use to affix revenue stamp

and in share transfer case share transfer stamps as stamp duty is usual cases coming in very small  amount. so which practice adopted by all company secretary kindly guide

On Thursday, June 7, 2018 at 5:49:48 PM UTC+5:30 GIRIJA NAGVEKAR wrote:

As far as stamping share certificate are concerned, each state has its own process.

Only in few states the process if followed as mentioned by the learned member.

In Goa , till date the adhesive revenue stamps are affixed as no bank here does franking of share certificates, neither its done my state revenue department.

Stamp duty is state specific, but  the process should be centralised in all states , so that state government receives its revenue instead of affixing stamps on the share certificate.

Regards,

Girija

On Wed, Apr 18, 2018 at 8:51 PM, CS V Kartik <karv...@gmail.com> wrote:

I forgot to mention one important thing in my reply that for collecting the franked certificates, you need to go to the stamp office, the next day between 3.30 pm to 4.30 pm

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