Revenue Stamp

Stamp duties are imposed on instruments and not transactions. An instrument is defined as any written document and in general,- stamp duty is levied on legal, commercial and financial instruments. The person liable to pay stamp duty is set out in the Third Schedule of Stamp Act 1949.   

Instruments liable to stamp duty are those listed in the First Schedule of the Stamp Act 1949.

The Assessment and Collection of Stamp Duties is sanctioned by statutory law now described as the Stamp Act 1949.


MODE OF STAMPING
The payment of duty on an instrument may be denoted by:
● Impressed Stamps through the use of Digital Franking Machine
● Stamp certificate 
● Revenue Stamps

Cancellation of the revenue stamps can be done at Stamp Branch Offices, Revenue Service Centres and District Offices. Under Schedule 2 of the Stamp Act 1949, specific persons are conferred the power to cancel revenue stamps.