THE INDIAN STAMP (KERALA) RULES, 1960

[1]THE INDIAN STAMP (KERALA) RULES, 1960

PREAMBLE

In exercise of the powers conferred by Sections 10, 11, 18, 37, 49 and 75 of the Indian Stamp Act, 1989 (Act 11 of 1989) as in force in the State of Kerala and in supersession of the corresponding rules in force in the State, the Government of Kerala make the following rules.

Rule - 1.

These rules shall be called the Indian Stamp (Kerala) Rules, 1960 and shall come into force with effect from 1-9-1960.

Rule - 2.

The Kerala Stamp Rules, 1960 issued under the Kerala Stamp Act, 1959 (Act 17 of 1959) shall apply in respect of documents specified in entry 91 of list 1 of the 7th schedule to the Constitution, subject to the following modifications, namely:-

(i)       The reference of the Act, Kerala Stamp Act, in the Kerala Stamp Rules, 1960 shall be construed as reference to the Indian Stamp Act, 1989 as in force in the State of Kerala. The rule or rules referred to in these rules refer to the rule or rules of the Kerala Stamp Rules, 1960.

(ii)      The following shall be substituted for rule 5 namely:-

"Rule 5-A promissory note or bill of exchange shall, except as provided by Section 11 or by rules 13 and 16 be written on paper on which a stamp of the proper value, or without the words "hundi" has been engraved or embossed."

(iii)     In rule 6, reference to Section 11 shall be constructed as Section 11 of the Indian Stamp Act.

(iv)    In rule 8 for [2]["of fifty paise under Articles 17 and 40 (b) or fourty paise under Article 34 or seventy five paise under Article 40 (a) of the Schedule to the Act"] the following shall be substituted "not exceeding 20 np. under Articles 37,49 and 52 of Schedule 1 to the Indian Stamp Act."

[3][(iva) Rule 11 shall be substituted as follows:-

Rule 11. Mode of offering the impressing labels:-

(1)     The proper Officer shall upon any instrument specified in Rule 10 being brought to him before it is executed, and upon application being made to him affix thereto a label or labels of such value as the applicant may require and pay for with, reference to the amount of transaction shown in the instrument and impress or perforate such label or labels by means of a stamping machine or a perforating machine and also stamp or write on the face of the label or labels the date of impressing of perforating the same. In the case of instruments written on parchment, the labels shall be further secured by means of metallic eyelets:

Provided that where a bill of exchange is drawn in sets, the proper officer, while stamping the first part, shall record on its second and subsequent parts the amount of transaction involved and the amount of duty paid on the first part, without charging any additional fee therefor.]

(v)      In rule 12 the reference to Section 11 shall be construed as a reference to Section 11 of the Indian Stamp Act and reference to Section 18, sub-section (2) shall be construed as a reference to Section 18, subsection (2) of the Indian Stamp Act.

(vi)    Rule 13 shall be substituted as follows:

Rule 13 - The following instruments may be stamped with adhesive stamps, namely:-

(a)      Bills of exchange payable otherwise than on demand and drawn in sets when the amount of duty does not exceed 10 np. for each part of the set.

(b)      Transfers of debentures of public companies and associations.

(c)      Instruments chargeable with the stamp duty under Articles 47 of Schedule I of the Indian Stamp Act.

(d)      Instruments chargeable with stamp duty under Article 37, 49 (a) (ii) and (iii) and 52 of Schedule I of the Indian Stamp Act."

(vii)   The following shall be added after rule 14, namely:-

14A.When any instrument of transfer of shares in a company or association is written on a sheet of paper on which a stamp of the proper value is engraved or embossed or on which special adhesive stamps of the proper value bearing the words "Share transfer" are affixed, and the value of the stamp or stamps so engraved, embossed or affixed, is subsequently in consequence of arise in value of such shares found to fall short of the amount of duty chargeable under Article 62 (a) of the Indian Stamp Act, one or more adhesive stamps bearing the words "share transfer" may be used to make up the amounts required.

(viii)  Rule 16 shall be substituted as follows:

16. The following instruments when stamped with adhesive stamps shall be stamped with the following descriptions of such stamps, namely:-

(a)      Bills of exchange, cheques and promissory notes drawn or made out of India and chargeable with a duty of more than 10 np. With stamps bearing the words "Foreign bill."

(b)      Separate instruments of transfer of shares and transfers of debentures of public companies and associations with stamps bearing the words "share transfer".

(c)      Instruments chargeable with a stamp duty under Article 47 of Schedule I- with stamps bearing the words "Insurance".

(ix)    In rules 18 and 19 reference to Chapter V of the Act shall be construed as reference to Chapter V of the Indian Stamp Act. In rule 19 after the words "immediate use" the following words shall be deemed to have been inserted "or on the renewal of debentures."

[4](x) Rule 21 shall be read as follows:

"The Board of Revenue shall be the Chief Controlling Revenue Authority."

(xi) (a) Appendix 1 shall be substituted as follows:

 

APPENDIX I

List of Instruments referred to in Rule 10 (a)

(1)     Bills of Lading - Article 12 of Schedule I of the Indian Stamp Act.

(2)     Transfers of descriptions mentioned in Art. 62 clause (a) and (b) of Schedule I of the Indian Stamp Act when the duty payable exceeds Rs. 15.

(b) Appendix II shall be substituted as follows:

 

APPENDIX II

List of Instruments referred to in Rule 10 (b)

(1)     Bills of exchange payable otherwise than on demand and drawn in India:-

Article 13(b) and (c) of Schedule I of the Indian Stamp Act.

(2)     Debentures- Article 27 of Schedule I of the Indian Stamp Act.