According to the distribution of legislative powers under the Constitution, it is exclusively for Parliament to make laws for the whole or any part of the territory of India prescribing the rates of stamp duty in respect of bills of exchange, cheques, promissory notes, bills of lading, letters of credit, policies of insurance, transfer of shares, debentures, proxies and receipts, being entry 91 of the Union List. Necessarily the Legislature of any State cannot fix these rates or meddle with the rates where they are duly prescribed by Parliament. There appears at present to be no law made by Parliament, which is in force in Part B States fixing the rates of stamp duty for these documents. This has given rise to unnecessary complications in these States and it is a defect to be remedied early. When the Constitution came into force many existing laws were sought to be brought into accord with the provisions of the Constitution by the Adaptation of Laws Order, 1950, made by the ....