GST: Capital mkt transactions may have uniform stamp duty
Published on Tue, Feb 09, 2010 at 21:55 | Source : CNBC-TV18
Updated at Wed, Feb 17, 2010 at 18:13
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GST: Capital mkt transactions may have uniform stamp duty
Capital market transactions may attract a uniform stamp duty across states under the goods and sales tax (GST) regime, when it is implemented, a finance ministry official has said.
Capital market transactions may attract a uniform stamp duty across states under the goods and sales tax (GST) regime, when it is implemented, a finance ministry official has said.
Even as the uniform stamp duty on transaction is subsumed under the GST, the government could also decide to bring it down to zero.
An estimated Rs 38,473 crore comes to the state exchequer from stamp duty in realty and capital markets of which the latter amounts to about Rs 7,000-8,000 crore, the official said, adding that the uniform stamp duty under GST would reduce transaction costs.
Currently, stamp duty is paid in five states - Kerala, Andhra Pradesh, Gujarat, Rajasthan and Uttar Pradesh - that have clear guidelines.
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Capital market transactions may attract a uniform stamp duty across states under the goods and sales tax (GST) regime, when it is implemented, a finance ministry official has said.
