alleryStamp duty on a bill of exchange is paid by:
ADrawer of the bill
BAcceptor of the bill
CBank handling discount
DPayee of the bill
Answer & Solution
Correct answer: A. Drawer of the bill
1. Stamp duty on a bill is the responsibility of the drawer at the time of drawing.
2. The bill must be properly stamped to be valid.
3. Unstamped bills are inadmissible as evidence.
_Source: ICAI BoS Foundation Paper 1, Ch 6 "Bills of Exchange", §1 characteristics_
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