Step 2 - e Stamping (Optional)

estamping is applicable only in india introduction estamping is a digital alternative to traditional paper based stamping it validates legal and financial documents electronically by using virtual stamps or seals instead of physical ones estamping saves time, reduces costs, and enhances document security by eliminating the need for physical stamps we provide estamping services for a large number of states of india we provide 2 ways of doing estamping estamping vs franking in estamping, we obtain the stamp papers from authorized vendors prior to procuring the stamp papers, it is necessary to determine the quantity, denomination, and state of the stamp papers in this scenario, only the acquired stamp papers can be utilized, and the denomination cannot be altered during the process the egras (government receipt accounting system)/franking is an online platform that allows users to make payments to the government for various services, including the purchase of stamp papers upon completing the payment, a challan is generated, serving as evidence of payment for the stamp papers subsequently, any amount from the challan can be used from a virtual wallet, enhancing the convenience of acquiring and utilizing stamp papers the below table shows the key differences between estamping and franking areas estaming franking procurement tat 3 5 days instant procurement it can be done by authorized vendors only companies can pay for the stamp duty on egras portal availability office hours 24 7 physical stamp papers companies need to keep physical stamp papers copy in their records not required flexibility of denomination only the denomination that have been procured can be used any denomination can be used stamping we facilitate the acquisition of digital stamp papers from shcil through authorized vendor partners called accs in the stamping process accs act as intermediaries between the cra and the stamp duty payer, with shcil serving as the cra additionally, we streamline the process of obtaining physical stamp papers for states that still use them by digitizing the entire journey procurement of estamps to get estamps, you need to procure the required stamp papers for example, if you need 10,000 stamp papers in karnataka with a denomination of inr 50 for ddpi in the demat account opening process, we'll obtain the papers and add them to your virtual wallet your assigned csm will assist you throughout the procurement, which typically takes 5 working days generation of estamped pdf document after obtaining the stamps, you can utilize the stamp papers to perform estamping for an agreement through the estamp payload in the create contract api this process will generate an estamped pdf document that can be utilized for additional tasks such as electronic signing refilling/re procurement whenever the stamp papers are depleted, it will be necessary to replenish them by acquiring a new set of stamp papers to determine the need for refilling, you can utilize the get wallet balance check api and get wallet logs api to regularly monitor the current balance and transaction history of your wallet this will enable you to make informed decisions regarding the requirement for refilling procurement of stamp papers is required on an ongoing basis and it is recommended to have one month of estamps inventory and keep on procuring on a monthly basis franking in the age of digitalization, some states have adopted the egras (online government receipts accounting system) system this system makes it easier for companies to purchase a large number of stamp papers and pay the required stamp duty taxes to the government for instance, if you need 10,000 stamp papers worth inr 50 each for the state of rajasthan, for the purpose of ddpi, you can simply make a single payment of inr 5,00,000 (inr 50 10,000) through the egras system in return, you will receive a certificate from the government, eliminating the need to purchase and maintain 10,000 individual stamp papers procurement with the franking/egras system, you can obtain all the required stamp papers from the egras system at once and provide them to the designated csm (customer success manager) for uploading the certificate into sigzny's virtual wallet this procurement process is significantly smoother compared to the previous method of acquiring stamps generation of estamped pdf document after paying the stamp duty via the egras system, you can begin utilizing the stamping services by including the relevant information in the estamping payload of the create contract api we will handle the ledger and wallet balance management for you within the system, and provide you with an estamped pdf document for future procedures refilling/re procurement when the balance in the franking wallet is exhausted, it becomes essential to replenish it by obtaining a new set of certificates through an online payment on the egras system to assess the need for replenishment, you can use the get wallet balance check api and get wallet logs api to periodically monitor the current balance and transaction history of your wallet this will help you make informed decisions regarding when to refill the wallet procurement of stamp papers is required on an ongoing basis and it is recommended to have one month of estamps inventory and keep on procuring on a monthly basis wallet logs/ledger you can check transaction logs in the signzy system between a certain range of time it takes input of start date, end date, amount, state, etc to filter and provide a mis the following terms are used in csv reports timestamp date and time of transaction contractid contract id with which it was used amount amount of the transaction echallannumber echallan number from which this amount was consumed refrence sub challan number used for the transaction first party name name of first party echallan date date of echallan when it was purchased state code state code for the echallan articlecode article code for the echallan status status of the transaction(reverted,consumed, inprogress) denomination value of stamp in case of stamp wallet balance check discover financial empowerment with the advanced signzy system easily keep track of your wallet balance by adding a stamp or a challan this unlocks a treasure trove of financial insights within signzy the key is the "parameter type," a powerful feature that effortlessly retrieves your estamp or echallan wallet, giving you a clear view of your funds say goodbye to uncertainty and embrace a world where you have instant financial visibility, all thanks to signzy's user friendly and secure platform the following terms are used in csv reports firstparty name of first party challanno echallan no which have the balance left state code state code for the echallan articlecode article code for the echallan initialbalance the uploaded amount currentbalance amount present in the challan denomination value of stamp stampfile stamp file