Fast, Secure, and Hassle-free EStamping

Question 1

What is Digital Stamping?

Answer

Stamping is the process of paying a fee, known as stamp duty, to the government for legal documents such as agreements, contracts, and deeds. It serves as a legal transaction record and is mandatory in many countries, including India.

Question 2

Is Digital Stamping valid in India?

Answer

As per Sec 4 of the IT Act (2000), electronic records are enforceable. The Indian government has authorized certain service providers to offer digital stamping services, which allows individuals and businesses to pay stamp duty online for legal documents such as agreements, contracts, and deeds. Digital stamping ensures compliance with Indian stamping laws and offers a fast and secure alternative to traditional stamp duty payment methods.

Question 3

Who determines the applicable stamp duty for any purpose/document type?

Answer

The Indian Stamp Act (1899) authorizes the states to stipulate the amount of stamp duty payable based on the type of transaction/purpose /document. Thus, the Stamp Act and stamp duty vary in each state. We procure stamps for whatever stamp duty you determine is applicable in any state and advise that you refer to the respective stamp act before placing an order.

Question 4

What is included in the EStamping management solution?

Answer

E-stamp management includes
1. Inventory management: Users can upload and manage stamps on SpotDraft, track thevolume of used and unused stamps, and stock up the inventory as and when required.
2. Users can affix stamps to a contract from their systems or the SpotDraft inventoryvia the contact information card.

Question 5

What is included in the EStamp procurement solution?

Answer

Using our procurement services, you can place orders for stamp papers across various states inIndia. We will make the scanned copies of stamps procured from the government-authorized vendors available to you within the standard Turnaround Time (TAT).

Question 6

How can you procure stamp papers from us?

Answer

1) Ad hoc Order:
• You can place ad hoc orders using the place order feature present under the contractinformation card on SpotDraft platform.
2) Bulk Order:
• If the volume of stamp papers to be procured exceeds 20, it qualifies as a bulk order.
• You can order bulk stamp papers by emailing the Customer Support Manager or filling up a bulk request form. This will be enabled through the platform shortly.

Question 7

How do we ensure the authenticity of stamps procured for you?

Answer

• We assist you in verifying stamps online. You can verify the stamps yourself at: https://www.shcilestamp.com/eStampIndia/VerifyCertificate.es?rDoAction=VerifyCe
‍We procure stamps from government-authorized vendors only:
• Vendors licensed in each state holding a valid license number issued by the respective states/authorized bodies
• Authorized Collection Centers (ACCs) appointed by Stock Holding Corporation of India Limited (SHCIL)

Question 8

What information do you need to provide while placing an order for stamps?

Answer

Each state may have different rules for providing information while procuring stamps. Generally, the name and address of the procuring party, purpose/document type, name/role of the counterparty, PAN of the procuring entity, stamp denomination, etc., are required across states. In addition, we need the volume of stamps to be procured in case of bulk orders.

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