Under the law, different states have set multiple rates for the same instrument, resulting in „Rate Shopping.“ For example, a company registered in Mumbai believes that it would be profitable to spend its shares in Noida (Uttar Pradesh), given that the stamp duty on share certificates in Noida is only 0.00001% of the value of the share than the stamp duty on the share certificate in Mumbai, which is 0.1% of the value of the shares. As a result of this difference, Rate Shopping spread and the resulting loss to the treasury was created. The amendment aims to permanently eliminate all perverse incentives for „rate shopping“ by imposing a lower but uniform rate, universally applicable throughout the country. In addition, the general reduction in interest rates will also encourage companies to issue shares in countries where their registered office is located. Corrigendum – Please note that the Indian Ministry of Finance issued two communications dated 30 March 2020, in which the implementation of the relevant amendments to the Indian Stamp Act, 1899 and the corresponding implementation of the Indian Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories Rules are postponed until 1 July 2020. As previously stated, the proposed timeline for implementation was April 1, 2020. for changes in post in the following boxes due to a typo which does not affect the amount of stamp duty: i. the parties have merely changed the price of the contract and have not made any changes to the other provisions of the contract; 20, entry 91, of List I of the Seventh List relating to the Constitution of India. This entry indicates that the Government of the Union may fix stamp duty rates for foreign exchange, cheques, promissor notes, bills of lading, flow-throughs, insurance policies, transfers of shares, bonds, supporting documents and receipts. (ii) provide for a centralised collection mechanism under which stamp duty is applied in a single place of an organisation (i.e.

through companies eligible for exchange or clearing) to an instrument4. 4 This amendment also subjects all obligations to stamp duty, contrary to Law21, which provides that only negotiable securities must be stamped22. Increase individuals. Companies. In the case of deposit transactions, the amendment introduces the concept of an allocation list, which is a list containing details on the allocation of securities that the issuer must charge to the depositary. As a result of the amendment, this allocation list is considered to be the main instrument on which stamp duty must be paid and no stamp duty is levied on other instruments related to the same sale or purchase of securities.13 The depositary is required to collect stamp duty from the issuer of the securities on behalf of the Land Government. before executing a transaction in the deposit system. Stamp duty is levied on the total market value of the securities on the auction list14In the specific case of an offer or offer to sell or a private placement made through a depositary, stamp duty is levied by the offeror on the market value of the security bought or sold. at the offer price, once the offer is successfully concluded.15 A modification agreement is a document between the parties to an initial contract who wish to modify or revise certain terms of an agreement. The amending contract can be used to modify any type of contract such as supply contract, loan agreement, service contract, housing rental agreement or commercial rental agreement, etc.

The modified stamp certificate can be downloaded immediately after self-modification and there is no obligation to submit the document unless we request it for audit purposes.. . . .