BEWARE OF FAKE INSTITUTES WITH SIMILAR NAMES. blank    blank
banner

Division of Stamp Duties in Indian Constitution



  Jan 15, 2024

Division of Stamp Duties in Indian Constitution



Under the Indian Constitution, stamp duties and registration fees are categorized into two distinct types based on their governance:

Union List (Entry 91):

Responsibility: Central Government.
Coverage: Bills of exchange, cheques, promissory notes, letters of credit, insurance policies, share transfers, and debentures.
Key Feature: Uniform rates across all states.
Revenue Collection: Managed by State Governments.
Revenue Allocation: Retained by State Governments.
State List (Entry 63):

Responsibility: State Governments.
Coverage: Varied items, commonly including property transfers.
Key Feature: Exclusive power to State Governments to set stamp duties for listed instruments.

Key Points:

The Central Government sets the rates for specific instruments under the Union List, while the State Governments have the autonomy to determine stamp duties for other instruments under the State List.
The collection of duties, even for instruments under the Union List, is a state responsibility, with the states retaining the revenues.
The nature of taxed items under the State List can vary from state to state.


Share:
 

Get a call back

Fill the below form to get free counselling for UPSC Civil Services exam preparation

 
UPSC DAILY CURRENT AFFAIRS

 
DEEP MACHINE LEARNING
 
MACHINE LEARNING
 
NON-AGRICULTURAL INFORMAL ENTERPRISES
 
MUNICIPAL BODIES:FINANCIAL CHALLENGES
 
CHANDRAYAAN-3: A YEAR of ACHIEVEMENTS
 
VIZHINJAM: INDIA’S FIRST DEEP-WATER TRANSSHIPMENT PORT
 
‘AANKH MICHOLI’
 
CHINA FACTOR IN INDIA-RUSSIA RELATIONS
 
CVF and climate finance negotiations
 
CBI JURISDICTION AND STATE CONSENT
 
Beej Utsavs (Seed Festivals)
 
SILK ROUTE THROUGH KALIMPONG AND SIKKIM
 
RHODODENDRON NIVEUM, THE STATE TREE OF SIKKIM
 
OPERATION DHANUSH NEAR LOC
 
French Revolution and India