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Home > News > PTI

Efforts on to make stamp paper tamper proof

November 14, 2003 21:55 IST

Ruling out any adverse impact on tax collections, the Centre on Friday said it had already initiated moves to make stamp paper tamper proof in the face of the recent multi-crore counterfeit racket unearthed in Maharashtra.

"The government is fully seized (seized) of the matter and some specific actions have been initiated. If any support is sought by the states, the government of India will support them," Finance Secretary D C Gupta told reporters in Delhi while releasing the mid-year economic review.

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The recommendations of a committee set up to consider changes in stamp papers are being incorporated and revised security features are being initiated. "A calendar for it (the changes to take effect) has been provided," he said.

He said though the Stamp Act is a central government law there are certain changes that can be made by state governments. Gupta said some, like Karnataka and Andhra Pradesh, have already evolved new methods to keep the tax collection going in the wake of the scam.

While some of the states have decided to introduce demand draft in lieu of stamp paper for tax collection of over Rs 500, others were taking recourse to franking machines.

"There are several methods of revenue collections and stamp paper is not the only method," he said without elaborating.

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Sub: What about the transactions made on fake one

Today there is talk in the air, that people of this poor country will have to pay the stamp duty all over again, if they ...

Posted by Ashok Chavda



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