Lucknow, Nov. 22 -- The Uttar Pradesh government is set to bring corporate restructuring (mergers and demergers) under the stamp duty ambit. The proposal to amend the Stamp Act is nearing its final stage and is expected to be presented before the state cabinet soon.
According to officials familiar with the matter, the new policy could generate additional revenue of about Rs 2,000 crore annually for the state.
After the cabinet approval, the amendment bill will be introduced in the winter session of the Assembly, probably next month.
A senior official from the Stamps and Registration Department said, "A cabinet note has been prepared to bring corporate restructuring under the stamp duty ambit. It will be sent to the government within a we...