Stamp duty on media advertisements: SC stays Bombay HC order

Bombay HC had earlier rejected plea by ad industry challenging stamp duty levy by Maharashtra govt

The Supreme Court implemented a stay on a Bombay High Court verdict that allowed the levy of stamp duty by the Maharashtra government on advertisements in print and electronic media, calling it a debatable issue. The apex court also directed that each of the members of the petitioner, Indian Broadcasting Foundation (IBF), shall give a summary of revenue earned through advertisement. 

The bench that included Justices Dipak Misra and A M Khanwilkar said, "We are of the considered opinion that the matter requires to be debated, especially keeping in view the sacrosanctity of freedom of speech and expression, and involvement