By Admin 
Stamp System: A historic change is going to happen in Madhya Pradesh. The 126 year old manual stamp system will now be discontinued. This means that now you will not get paper stamps bought by hand. The government has announced that in future only e-stamps will be used. This change will be implemented in the coming few months. Let us know when the stamp system started for the first time in the world and how it came to India.
Why was e-stamp system necessary?
The biggest advantage of e-stamping is transparency and security. In earlier manual stamp papers, cases of counterfeit paper, re-use and forgery were common. Now in e-stamping, every transaction will be registered online, due to which there will be no scope for fraud. With this, people will no longer need to stand in long lines to buy stamps, they will be able to make online payment and download the e-stamp immediately.
Where in the world did the stamp system start?
The stamp system has its roots in 17th century Europe. The ‘Stamp Act’ was first implemented in England in 1694. Its objective was to increase government revenue by imposing taxes on legal documents. After this, this system spread throughout Europe, countries like France, Spain and Netherlands also adopted it. A few decades after this system, in 1840, Britain issued the world’s first postage stamp Penny Black, which also revolutionized postal services.
Story of Stamp System in India
The stamp system in India started during the British rule. It was implemented in 1797 under Regulation VI. Initially it was limited to a few areas, but by 1860 it spread throughout India. This was later formalized as the Indian Stamp Act 1899. Under this Act, the government got the right to collect taxes on legal documents, contracts, property purchase and sale and agreements. This law is still in force in the country, although now its form has become digital.
Also read: Dhoni Net Worth: Apart from Ranchi, where else is Mahendra Singh Dhoni’s property, know how rich ‘Captain Cool’ is.