Government invites suggestions on draft Indian Stamp Bill, 2023 from public within 30 days..

The government has invited suggestions on the draft Indian Stamp Bill, 2023 from the public within 30 days. Union Finance Ministry said, the Department of Revenue has prepared a draft Indian Stamp Bill to align it with the modern stamp duty regime. Once enacted, the Bill will replace the Indian Stamp Act of 1899. The Ministry said, the Indian Stamp Act, 1899 is a fiscal statute laying down the law relating to tax levied in the form of stamps on instruments recording transactions. It said, the act has been amended from time to time to enable a more modern Stamp Duty regime.