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What are the consequences of delay or non-payment of Stamp Duty on an instrument?

April 26, 2017consequences delay duty instrument non-payment stamp

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What are the consequences of delay or non-payment of Stamp Duty on an instrument?

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Delay in payment of stamp duty attracts penalty at the rate of 2% per month on the amount of the stamp duty that has to be paid, up to a maximum of twice the amount of the stamp duty payable. An instrument, which is not properly stamped, is inadmissible as evidence.