Stamp Duty [Stamp Duty (Special Provisions) Act No 12 of 2007]
Present Stamp Duty of 1.5% (every Rs. 1000 or part thereof Rs 15/-) levied on Credit Card usage will be removed with regards to local usage of credit cards.
Usage of credit card for foreign purchases will be increased to 2.5% ( on every Rs 1000 or part thereof Rs25/-)
“Share Certificate” will be exempted from with effect from January 1, 2016.
[ Relevant rate change will be Gazetted and applicable on transactions entered into on or after January 1, 2016]