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In India states earn revenue through own taxes, central taxes, non-taxes and central grants. [1] For most states, own taxes form the largest part of the total state revenue. [1] Taxes as per the state list includes land revenue, taxes on agricultural income, electricity duty, luxury tax, entertainment tax and stamp duty. [2]
90. Taxes other than stamp duties on transactions in stock exchanges and futures markets. 91. Rates of stamp duty in respect of bills of exchange, cheques, promissory notes, bills of lading, letters of credit, policies of insurance, transfer of shares, debentures, proxies and receipts. 92.
Stamp duty was formerly a graduated progressive tax with the more expensive the house bought the greater the stamp duty rate. The top rate slowly increased from 0.5% in 1882 to 3% in 1947, 5% in 1973, 6% in 1975, reaching its peak at 9% in 1997. [ 7 ]
Stamp duties other than duties or fees collected by means of judicial stamps, but not including rates of stamp duty. 45. Inquiries and statistics for the purposes of any of the matters specified in List II or List III. 46. Jurisdiction and powers of all courts, except the Supreme Court, with respect to any of the matters in this List. 47.
Custom duty is an indirect tax levied on import or export of goods in and out of country. [12] When goods are imported from outside, the tax known as import custom duty. when goods are exported outside India, the tax is known as export custom duty. The tax collected by Central Board of Indirect Taxes and Customs. In February 2020, as part of ...
Rates of stamp duty in respect of documents other than those specified in the provisions of List I with regard to rates of stamp duty. Offences against laws with respect to any of the matters in this list. Jurisdiction and powers of all courts, except the Supreme Court, with respect to any of the matters in this list.
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Preference Shares (Regulation of Dividend) Act: 1960: 63 Acquired Territories (Merger) Act: 1960: 64 Advocates Act: 1961: 25 Salar Jung Museum Act: 1961: 26 Motor Transport Workers Act: 1961: 27 Dowry Prohibition Act: 1961: 28 Delhi (Urban Areas) Tenants' Relief Act: 1961: 30 Union Territories (Stamp and Court-fees Laws) Act: 1961: 33 Dadra and ...