![]() ![]() will prevail all over India subject to provision as applicable in Jammu and Kasmir. The Stamp Duty Rates prescribed by the Parliament in respect of Bill of Exchange, Cheques, Transfer of Shares etc. Parliament can prescribe the Rates of Stamp Duty. Power of Parliament in respect of Stamp Duty :– Parliament has the power to make law in respect of Stamp Duty. What are the Power of Central Government and State Government in respect of Stamp Duty ? So it gives to much important to the Stamp Documents. And one more thing is that, in case of any litigation arises in future then only Stamp Documents will prevail in the Court. However, over a period of time, the Stamped document has obtained so much value as well as importance in the life span of People that a, ‘Stamped Document’ is considered much more authenticable and reliable rather than an un – Stamped document. ![]() The basic purpose of Indian Stamp Act, 1899 is to raise revenue for Government, and government would like to earn more money either by imposing a tax or by charging Duty and in that Duty includes the Stamp Duty, the matter is not relevant but the money is more important for government in the present scenario. ![]()
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