Stamp duty on foreign bills in gujarat

TUSHAR SHAH (Querist) 16 December 2014 This query is : Resolved
Sirs,

We are importing material through 180 days usance letter of credit in which importer has to pay stamp duty @0.25% on value of Bill of Exchange and stamp duty to be affixed or franking on Bill of Exchange, now the problem is that as per the provision of Gujarat stamp act, stamp duty franking or affixing only on unsigned paper but bill of exchange is usually signed by exporter in that case stamp vendor refuse to franking on signed paper. Now what is the way to pay stamp duty? or what is the proceedure to pay stamp duty on signed bill of exchange?.as we have to pay more than Rs.50000/- stamp duty on single bill of exchange so if we go for affixing stamp of 100/- denomination than its require many stamps.

please give your advice.

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Anirudh (Expert) 16 December 2014
I think, getting e-stamp of the requisite value with clear indication of the purpose and also linking it with the B/E should suffice. (There may not be requirement for affixing any stamp or for franking)

Rajendra K Goyal (Expert) 16 December 2014
take up the matter with the Govt. Finance department.

ajay sethi (Expert) 16 December 2014
agree with MR anirudh

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