Gujarat High Court seeks to settle stamp duty conundrum on the scheme of amalgamation

Recently Gujarat High Court has passed an order in the matter of Chief Controlling Revenue Authority v Costal Gujarat Power Limited and others (Civil Appeal No. 6054 of 2015) (said Order). The said Order seeks to provide better clarity on several aspects of stamp duty payable under the Gujarat Stamp Act (GSA) on the order approving the scheme of amalgamation between the companies.

The said Order was passed in eight connect matters under the composite scheme of amalgamation. The appeal emanated from the order passed by the Revenue Authority levying stamp duty on the composite scheme of amalgamation along with interest and penalty.

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