Payment of Stamp Duty on Commercial Agreements

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This topic contains 0 replies, has 1 voice, and was last updated by  Sandesh Kasabe 3 weeks, 2 days ago.

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    Sandesh Kasabe
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    Dear Sir,

    Firstly, Wishing you a happy new year 2017 in advance. My query is that in case of Agreements between two Corporates for providing certain services where one Company who is receiving the services is in Mumbai and other is in Hyderabad where it has its corporate office, in such case where should the stamp duty be paid for printing the agreement on stamp paper.

    1) Should it be Mumbai for receiving services in Mumbai but payment made to Hyderabad?
    2) Should it be Hyderabad if agreement is made in Hyderabad but signed in Hyderabad and Mumbai.
    3) In case place of Arbitration or Jurisdiction of Court is designated to Kolkata i.e. a third location, where should be the stamp paper purchased. Should it not be Kolkata so that the Agreement can be admissible in that Court as there may be technical objection on non payment of stamp duty in Kolkata.

    One more thing, services mentioned above would be normal consultancy services, Security and housekeeping services etc. which may not attract stamp duty but it is usually printed on 100 Rs. Stamp paper or in case there is an indemnity clause then may be Rs. 500/- as per Bompaby Stamp Act.

    Request to kindly enlighten on the above. Also if you have any other scenarios, pls advise on them too.

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