Stamp duty on bank gurnatee

Ravi (Querist) 05 March 2012 This query is : Resolved
I have a BG issued from Banglore, should it get stmaped in terms of Bombat stmap Act, once it is brought to Mumbai ? if yes who is resposnible for payment of stamp duty ?

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ajay sethi (Expert) 05 March 2012
if you are giving a bank gurantee you shall be liable to pay stamp duty charges .

Deepak Nair (Expert) 05 March 2012
The person to whom the bansk guarantee is issued is liable to pay the stamp duty.
The duty is Rs.100/- for BG upto Rs.1o lacs and 0.02% for any amount above Rs.10 lacs.

Shonee Kapoor (Expert) 05 March 2012
Agreed with experts.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

Sankaranarayanan (Expert) 05 March 2012
If you are the person need to give bank gurantee then you have to bear the cost of stamp duty. And it should be the juristictiooon of the place and state

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