INDIAN STAMP ACT, 1899 (GUJARAT
AMENDMENT)
Section 9 - Power to reduce, remit or compound duties
(1)
[1][[2][The [3][***]Government;]
may, by rule or order published in the Official Gazette,-
(a)
reduce or
remit, whether prospectively or retrospectively, in the whole or any part
of [4][the
territories under its administration], the duties with which any instruments or
any particular class of instruments, or any of the instruments belonging to
such class, or any instruments when executed by or in favour of any particular class
of persons, or by or in favour of any members of such class, are chargeable,
and
(b)
provide for
the composition or consolidation of duties [5][of
policies of insurance and] in the case of issues by any incorporated company or
other body corporate inserted by Act 23 of 2004, section 117 (w.e.f.
10.09.2004) [6][or
of transfers (where there is a single transferee, whether incorporated or not)]
of debentures, bonds or other marketable securities.]
(2)
[7][In this section the expression "the Government" means,-
(a)
in relation
to stamp-duty in respect of bills of exchange, cheques, promissory notes, bills
of lading, letters of credits, policies of insurance, transfer of shares,
debentures, proxies and receipts, and in relation to any other stamp-duty
chargeable under this Act and falling within entry 96 in List I in the [8][Seventh
Schedule to the Constitution, except the subject matters referred to in clause
(b) of sub-section (1).]
(b)
Save as
aforesaid, the State Government.]
(c)
[9][Seventh Schedule to the Constitution, except the subject matters
referred to in clause (b) of Sub-section (1), the Central Government;]
STATE AMENDMENTS
[GUJARAT
[10][After Section 9 The fallowing new section shall be inserted. namely:-:?
"9A. Power of state Government to consolidate duties in respect of
receipts:-
The State Government may, by order published in the official Gazette.
provide for consolidation of duties in respect of any receipts or class of
receipts given by any person (including any Government), subject to such
conditions as may be specified in the order.".]
[1]
Section
9 re-numbered as sub-section (1) of that section by the A. O. 1950.
[2]
Substituted
by the A. O. 1937 for "The G. G. in C. "
[3]
The
word "collecting" omitted by the A. O. 1950.
[4]
Substituted
by the A. O. 1937 for "British India".
[5]
Inserted
vide Finance ( No.2) Act 2004
[6]
Inserted
by Act 32 of 1994 w. e. f. 13-5-1994.
[7]
Inserted
by the A.O. 1950.
[8]
Substituted
for the words "Seventh Schedule to the Constitution" by
the Finance Act, 2006.
[9]
Substituted
by Act 21 of 2006.
[10]
Inserted
by Indian Ports (Gujarat Amendment) Act, 1963.