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of <h1>Finance Bill 2019: Indian Stamp Act Amendments Address Stamp Duty on Stock Exchanges and Depositories</h1> The amendments to the Indian Stamp Act, 1899, introduced by the Finance Bill, 2019, add Part AA, addressing the liability of instruments in stock exchanges and depositories to stamp duty. For securities transactions through stock exchanges, the duty is collected from the buyer by the exchange or clearing corporation. For transfers via depositories, the duty is collected from the transferor. The issuer pays the duty for changes in depository records due to security issuance. The collected duty is transferred to the relevant State Government. For transactions outside exchanges or depositories, the issuer or seller pays the duty based on the market value or consideration amount.
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