https://www.taxtmi.com/highlights?id=75898 Levy of stamp duty on schemes of amalgamation or restructuring - The High court found that orders of the court sanctioning amalgamation/restructuring, along with the schemes appended to them, are instruments of conveyance under the existing legal framework, thus liable for stamp duty. - The court upheld the circular clarifying the levy of stamp duty on amalgamation schemes but partially invalidated a government order that introduced a new mode of computation for stamp duty based on share value, stating it required legislative action. - The court affirmed the validity of the retrospective application of reduced stamp duty rates, provided by a government order, as beneficial and within the state's power. en-us Thu, 21 Mar 2024 06:58:03 +0530 Thu, 21 Mar 2024 06:58:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75898 Levy of stamp duty on schemes of amalgamation or restructuring - The High court found that orders of the court sanctioning amalgamation/restructuring, along with the schemes appended to them, are instruments of conveyance under the existing legal framework, thus liable for stamp duty. - The court upheld the circular clarifying the levy of stamp duty on amalgamation schemes but partially invalidated a government order that introduced a new mode of computation for stamp duty based on share value, stating it required legislative action. - The court affirmed the validity of the retrospective application of reduced stamp duty rates, provided by a government order, as beneficial and within the state's power. Highlights Indian Laws Thu, 21 Mar 2024 06:58:03 +0530 https://www.taxtmi.com/highlights?id=75898