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Stamp Duty on Bill of Exchange (Legal Documents)

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This query is : Resolved

Author : Kiran Kudu

Posted On 05 April 2011 at 14:41

a) IS it necessary to have Bill of Exhange drawn on the L/c opening Bank under Usance L/c upto 180 days?
b) What is the rate of stamp duty payable if Bill of Exchange is drawn by beneficiary from foreign country on the L/c opening bank in Mumbai?


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Expert : malipeddi jaggarao

Posted On 07 April 2011 at 16:36

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a) yes
b) Though the beneficiary belongs to foreign country, since the Bill of Exchange is drawn in India, Stamp duty applicable in Mumbai is valid stamp duty.



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