It should be ensured that a double incidence of stamp duty doesn’t occur on any transaction. Where, before being credited in the buyer’s Demat account, the securities were transferred from the Demat accounts of an issuer to the clearing corporation, member, etc., the stamp duty shall be transferred to the state government where the residence of the buyer is located.
For more information on Indian Stamp Act, 1899, click here. For more details about the amendments, refer here.