Indian Stamp Act, 1899

3. Instruments chargeable with duty

Subject to the provisions of this Act and the exemptions contained in Schedule I, the following instruments shall be chargeable with duty of the amount indicated in that Schedule as the proper duty therefor, respectively, that is to say-

(a) every instrument mentioned in that Schedule which, not having been previously executed by any person, is executed in ³[India] on or after the first day of July, 1899;

(b) every bill of exchange ¹⁹[payable otherwise than on demand] ²⁰[* * *] or promissory note drawn or made out of ³[India] on or after that day and accepted or paid, or presented for acceptance or payment, or endorsed, transferred or otherwise negotiated, in ³[India]; and

(c) every instrument (other than a bill of exchange ²⁰[* * *] or promissory note) mentioned in that Schedule, which, not having been previously executed by any person, is executed out of ³[India] on or after that day relates to any property situate, or to any matter or thing done or to be done, in ³[India] and is received in ³[India]:

PROVIDED that no duty shall be chargeable in respect of-

(1) any instrument executed by, or on behalf of, or in favor of, the government in cases where, but for this exemption, the government would be liable to pay the duty chargeable in respect of such instrument;

(2) any instrument for the sale, transfer or other disposition, either absolutely or by way of mortgage or otherwise, of any ship or vessel, or any part, interest, share or property of or in any ship or vessel registered under the Merchant Shipping Act, 1894, or under Act 19 of 1938, or the Indian Registration of Ships Act, 1841, as amended by subsequent Acts.

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