No.14/005/106/2004
August 3, 2004
Members of the Council
Dear Members,
Sub: Waiver of Stamp Duty on Usance Bills
As the members are aware, the exporting community had been pleading to the Government for waiver of Stamp Duty on usance bills tendered for negotiations. This issue was followed-up through FIEO in Open House Meets / Interactive Sessions with the concerned Government authorities as well as during meetings with senior officials of the Ministry of Commerce, Ministry Finance and the Reserve Bank of India
In this connection, we are pleased to inform that the Government of India has waived the Stamp Duty on foreign usance Bills. We forward herewith a copy of the Order No. 804(E) dated July 8, 2004 issued in this regard by the Department of Revenue, Ministry of Finance for your information and reference.
Thanking you,
Yours faithfully,
K Abdul Sattar Khan
Assistant Director
Circular
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