India’s first revenue stamp – 1869 is one of the oldest revenue stamps in the world. This stamp with the print of Queen Victoria was launched at least 50 years prior to independence of India.
Why was revenue stamp introduced?
A revenue stamp is a (usually) adhesive label used to designate collected taxes or fees on documents, tobacco, alcoholic drinks, drugs and medicines and many other things. Typically, businesses purchase the stamps from the government (thereby paying the tax). Then these stamps are attached to the taxed items, or in the case of documents, as part of filling out the form.
Revenue stamps often look very similar to postage stamps, and in some countries and time periods it has been possible to use postage stamps for revenue purposes, and vice versa. Some countries also issued dual-purpose postage and revenue stamps.
When was it first introduced?
Revenue Stamps had first appeared in England when the 1694 Stamp Act imposed temporary taxes upon specific legal documents to raise funds for the Nine Years War (1688–1697).
The Seven Years War (1756–1763) left Britain heavily in debt. Parliament felt the colonies situated throughout the Caribbean and Americas should contribute towards the costs of their defence.
History of revenue stamps in India
India has been a heavy user of revenue stamps, both before and after independence. The first revenue stamps were issued in the mid-nineteenth century and they are still being issued to this day. Apart from issues for India, many princely states & provinces also had or still have their own revenue stamp issues.
Significance of this revenue stamp and the beginning of a long series of revenue stamps
Some estimates suggests that this stamp is around 150 year old. India’s first revenue stamp – 1869 was start of a long series of revenue stamps introduced which continues till today.