law: Indian Stamp Act, 1899 
  9. Power to reduce, remit or compound duties 
   26  [(1)] 27[The 28[***] government]
  
  may, by rule or order published in Official Gazette,- 
  (a) reduce or remit, whether prospectively or
  
  retrospectively, in the whole or any part of 29[the territories
  
  under its administration], the duties with which any instruments or any
  
  particular class or instruments, or any of the instruments belonging to such
  
  class, or any instruments when executed by or in favor of any particular class
  
  of persons, by or in favor or any members of such class, are chargeable, and
  (b) provide for the composition or consolidation
  
  of duties in the case of issues by any incorporated company or other body
  
  corporate 30[or of transfers (where there is a single transferee,
  
  whether incorporated or not).]
   31  [(2) In this section, the expression "the
  
  government" means,- 
  (a) in relation to 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, and in relation to any other stamp-duty chargeable under this Act and
  
  failing within entry 96 of List I in Schedule VII to the Constitution, the
  
  Central Government;
  (b) save as a foresaid, the State Government.]