CHAPTER VI
MISCELLANEOUS
PART I
AMENDMENT TO THE INDIAN STAMP ACT, 1899
Insertion of new section 8G.
117. In the Indian Stamp Act, 1899, (2 of 1899.) after section 8F, the following section shall be inserted, namely:––
Strategic sale, disinvestment, etc., of immovable property by Government company not liable to stamp duty.
“8G. Notwithstanding anything contained in this Act or any other law for the time being in force, any instrument for conveyance or transfer of a business or asset or right in any immovable property from a Government company, its subsidiary, unit or joint venture, by way of strategic sale or disinvestment or demerger or any other scheme of arrangement, to another Government company or to the Central Government or any State Government, after the approval of the Central Government, shall not be liable to duty under this Act.
Explanation.––For the purposes of this section, “Government company” shall have the same meaning as assigned to it in clause (45) of section 2 of the Companies Act, 2013 (18 of 2013.).”.
Notes on Clauses:
Clause 117 of the Bill seeks to insert a new section 8G in the Indian Stamp Act, 1899 to provide that strategic sale, disinvestment, etc., of immovable property by Government company shall not be liable to stamp duty.
