FACTORING SERVICES NOT TO ATTRACT STAMP DUTY LEVY

Factoring transactions may not attract stamp duty in the coming days, giving a boost to such businesses in the country. This follows an amendment to exempt 'assignment of receivables' from stamp duty, moved by the Centre in the Factoring Bill. Factoring is a financial transaction where a business sells its accounts receivable to a third party called a "factor", which finances the receivables and handles the administration and collection of debt.