No Stamp Duty On Sale Certificate Issued By Banks/Revenue Authorities To Auction Purchaser : Kerala High Court

The Kerala High Court has ruled on stamp duty implications for an "auction purchaser" receiving a "sale certificate." The court clarified that the stamp duty should be calculated based on the purchase price or the fair market value, whichever is higher, at the time of the sale certificate's execution, not the date of the auction itself. This decision provides clarity on the valuation date for stamp duty purposes in auction sales, ensuring proper revenue collection for the state and avoiding disputes arising from property value fluctuations between auction and certificate issuance.