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TN to get own Stamp Act
Posted on: 08/May/2013 5:04:35 PM
The Tamil Nadu government moved the Tamil Nadu Stamp Bill, 2013 in the Assembly on Tuesday. The announcement that the State wishes to get its own Stamp Act was announced by Commercial Taxes and Registration Minister B.V. Ramanaa. Currently, the law amends to the Indian Stamp Act, 1899.
Speaking at the Assembly, Mr. Ramanaa said, ‘Amendments to the Act have to be referred for consideration of the President under Article 254 (2) of the Constitution… Such reference to President had to be made since it is an existing law with respect to one of the matter enumerated in the Concurrent List in the Seventh Schedule to the Constitution.
‘Amendments to the said Central Act proposed in the state could not, therefore, be brought into force expeditiously. To facilitate the process of bringing into force the amendments proposed in the State, and to regulate the procedure relating to the levy of stamp duty by the state government, the Government have decided to enact a separate law relating to stamps in the state… States such as Maharashtra, Gujarat, Karnataka, Kerala and Rajasthan have such Acts.’
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