https://www.taxtmi.com/news?id=22924 The amendments establish a centralized stamp duty collection mechanism for securities market instruments by designated collecting agents (Stock Exchanges, authorized Clearing Corporations, Depositories, CCIL and RTI/STAs), who shall collect duty on specified transactions, retain a facilitation charge, and transfer collections within three weeks to the State Government determined by the buyer's domicile or prescribed nexus; the scheme prevents multiple levies on secondary records, generally assigns liability to one side of transactions, harmonizes rates across States, provides targeted rate reductions and exemptions for IFSC transactions, and contemplates regulatory guidance for implementation. en-us Wed, 01 Jul 2020 09:19:58 +0530 Wed, 01 Jul 2020 09:19:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22924 The amendments establish a centralized stamp duty collection mechanism for securities market instruments by designated collecting agents (Stock Exchanges, authorized Clearing Corporations, Depositories, CCIL and RTI/STAs), who shall collect duty on specified transactions, retain a facilitation charge, and transfer collections within three weeks to the State Government determined by the buyer's domicile or prescribed nexus; the scheme prevents multiple levies on secondary records, generally assigns liability to one side of transactions, harmonizes rates across States, provides targeted rate reductions and exemptions for IFSC transactions, and contemplates regulatory guidance for implementation. News - Wed, 01 Jul 2020 09:19:58 +0530 https://www.taxtmi.com/news?id=22924