Tamil Nadu govt to enact its own Stamp Act

Tamil Nadu government today proposed to enact its own Stamp Act, seeking to join a list of select states in this regard.
The Tamil Nadu Stamp Bill, 2013 was moved in the state Assembly by Commercial Taxes and Registration Minister B V Ramanaa, a day after he announced that the government will enact its own Stamp Act.
With the law relating to stamps in the state contained in the Indian Stamps Act, 1899 (Central Act II of 1889), amendments to the Act have to be referred for consideration of the President under Article 254 (2) of the Constitution, he said.

Such reference to President had to be made "since it is an existing law with respect to one of the matter enumerated in the Concurrent List in the Seventh Schedule to the Constitution," Ramanaa said.
"Amendments to the said Central Act proposed in the state could not, therefore, be brought into force expeditiously. To facilitate the process of bringing into force the amendments proposed in the State, and to regulate the procedure relating to the levy of stamp duty by the state government, the Government have decided to enact a separate law relating to stamps in the state," he added.

States such as Maharashtra, Gujarat, Karnataka, Kerala and Rajasthan have such Acts, he said.
Yesterday, Ramanaa pointed out that amendments proposed by the state "for welfare of public/ in the interest of revenue have got delayed due to this long drawn procedure," of sending them for President's assent.