President clears a uniform stamp duty system for securities transactions

There is to be a coordination council to review or revise stamp duty rates

The President cleared a uniform stamp duty system on Thursday, putting an end to a regime with varying stamp duties in different states for securities transactions. The government had originally moved to bring uniformity in rates and implementation of stamp duty as part of the budget speech. The Finance Bill with the provisions for amendment was passed in the Lok Sabha on February 12. It was passed in the Rajya Sabha the next day. Brokers had requested scrapping of the levy saying that introducing a central tax levy is burdensome.  The government said on Thursday that the tax rate would