Govt issues uniform stamp duty structure across states

In order to curb the menace of different states flexing muscle on stamp duty collection in equity, currency and commodity markets, the Central Government has issued a uniform stamp duty structure across states. The Gazatte notification for uniform stamp duty would be effective from January 2020.

Currency traders in Mumbai, a city which generates largest trading volume in the segment, will have to pay a stamp duty of only Rs. 10 per crore against Rs. 200 they pay as of now. The same is for Delhi. Details of stamp duty charged is based on traded volume and is mentioned in a contract note. Brokers collected it and passed it on to the respective states where the trading volumes came from.

Stamp duty of around Rs. 250 to 300 has been levied by many states on per Rs. 1 crore worth of intra-day and derivative trades. This has now been fixed at Rs. 300 for intra-day, and Rs. 200 for derivative on every Rs. 1 crore worth of volumes.

On delivery based trades, the stamp duty has been fixed at Rs. 1,500 per crore on buy side. This is instead of Rs. 750 on each buy and sell side. The same for options trading is Rs. 300 and Rs. 10 for currency segment trading on every crore.