The Government of Kerala on January 24, 2025, issued a notification regarding the Consolidated Stamp Duty Payment for LIC Pension and Group Schemes in Kerala.
Section 9(1)(b) of the Indian Stamp Act, 1899, has authorized the Life Insurance Corporation of India (LIC) to pay a consolidated stamp duty of ₹10,00,000 for insurance policies issued by the Pension and Group Schemes Unit under the Kozhikode Division. The stamp duty is calculated at 20 paise per ₹1,000 of face value for group insurance policies and is valid from December 1, 2024, until the allocated amount is exhausted.
[Notification No. 69/2025]
