A revenue stamp is a type of adhesive label used to collect taxes or fees on various items.
Also known as
- tax stamp or
- fiscal stam
What are its uses?
The presence of a revenue stamp being an indication that the item in question had already paid the necessary fees.
Many countries of the world have used them, for documents, tobacco products, liquor, drugs, playing cards, hunting licenses and other kinds of things. While revenue stamps resemble postage stamps, they were not intended for use on mail and therefore did not receive a postal cancellation.
Do revenue stamps require cancellation as an acknowledgement of acceptance?
Yes, revenue stamps can display cancellation markings of three types:
- by manuscript signature of the person canceling the stamp (usually with date),
- by hand stamp identifying the canceling agent (also usually with date),
- or by punch.
When does a revenue stamp have to be attached?
- In India, a revenue stamp needs to be affixed only on receipts for amounts over Rs. 5,000,
w. e. f. June 2, 2005 as per amendment to the Indian Stamp Paper Act of 1899. Transactions up to Rs 5,000 made from June 2 onwards would not require revenue stamp.
- According to the earlier provision, revenue stamp worth Re. 1 had to be affixed for all transactions of over Rs 500.