Question

which of the following government gets the stamp duity collected on promissory notes?​

Answer 1

Under the Stamp Act, the Central Government can levy stamp duty on some instruments like bills of exchange, cheques, promissory notes, transfer of shares etc. The Centre is empowered to levy stamp duty on specified instruments and also to fix the rates for these instruments.

Answer 2

Answer:

Under the Stamp Act, the Central Government can levy stamp duty on some instruments like bills of exchange, cheques, promissory notes, transfer of shares etc. The Centre is empowered to levy stamp duty on specified instruments and also to fix the rates for these instruments.