Concessions require proper
structuring, keeping in mind various aspects, including stamp duty.
Expert advice from corporate lawyers and infrastructure lawyers
is required to have a futuristic perspective and effectively
protect legitimate business interests within the legal regime's
parameters.
Introduction
Stamp duty is applicable on an 'instrument' and not a
transaction. The instruments shall be chargeable with duty of the
amount indicated in the relevant schedule as the proper duty.
In order to ascertain the stamp duty applicable to an
instrument, it is essential to determine the nature of the
instrument as defined in the Indian Stamp Act, 1899 ('Stamp
Act') read with State Amendment, where applicable. The
'nature' of the instrument is to be understood from the
content of the instrument and not from its nomenclature. Stamp duty
is a tax payable to the government; thus, the statute governing
stamp duty must be interpreted strictly.
