The collecting agents have to transfer collected stamp duty to the State Government within three weeks of the end of each month. Any collecting agent who fails to collect the stamp duty or fails to transfer stamp duty to the State Government within fifteen days of the expiry of the time specified, shall be punishable with fine which shall not be less than INR 1,00,000, but which may extend up to 1% of the collection or transfer so defaulted.
For more information on Indian Stamp Act, 1899, click here. For more details about the amendments, refer here.