However, as a general matter we believe the changes will achieve uniformity and affordability. Circular w.e.f. THE REGISTRATION ACT, 1908. *5\Q JF5 \S Bm49OFA6Ak!FKy-v){krM{8KM1,0f o+i{Q442Ky^,|Ik6?-]B5)pCT589TtHE`i"~:l:\^F&TgX6@n_O0S9]3\=^8S#1um{1 \+*KBIa_902B!S0KM The eSBTR is a receipt of duty paid to the government. In exercise of the powers conferred by Article 213 (1) of the Constitution of India, the Governor of Maharashtra promulgated the Maharashtra Stamp (Amendment and Validation) Ordinance, 2021 (" Ordinance ") on February 09, 2021, which shall come into force with effect from February 09, 2021. 478 of 2022 ('Tata Autocomp') granted interim relief by directing Maharashtra Government to refrain from levying Stamp Duty under Article 29 (Article 24 in Bombay Stamp Act, 1958) of Schedule I of the Maharashtra Stamp Act, 1958 ('Stamp Act') on Bill of Entry ('BOE . The Maharashtra government is all set to hike stamp duty on house registration by 1 per cent from the next financial year. 0.3% of the amount secured by such deed subject to maximum of Rs. Explanation for the purposes of this Article, not withstanding anything contained herein above, the highest duty on either of the property exchanged shall be chargeable. (i) If relating to giving authority or power to a promoter or a developer by whatever name called, for construction on, development of or, sale or transfer (in any manner whatsoever) of, any immovable property. LEASE, including under lease or sub-lease and any agreement to let or sublet or any renewal of lease--, The same duty as is leviable on a conveyance under clause (a), (b) or (c), as the case may be, of article 25, on 10 % of the market value of the property, (ii) for a period exceeding 5 years but not exceeding 10 years, with a renewal clause contingent or otherwise. By Notification dated 8th February 2019, the Government of Maharashtra has introduced levy of additional stamp duty for instruments of sale, gift and usufructuary mortgage, in the form of Metro Cess. The same duty as is leviable on Conveyance under clause (a), (b) or (c), as the case may be, of article 25 on 50 % of the market value of the property. (1) Instrument of any partnership inclusive of ,Limited Liability Partnership and Joint Venture to run a business ,earn profits and to share profits ,whether in cash or in kind-. Two key amendments to the Maharashtra Stamp Act, 1958 have been introduced in relation to stamping of documents encompassing multiple transactions and stamp duty rates in case of mortgage by deposit of title deeds and mortgage deed. Thus, no instrument can be registered beyond 8 months from the date of execution. Instruments executed out of State. Step 1: Login to the Maharashtra Stamp Duty Online Payment portal, i.e., https://gras.mahakosh.gov.in/igr/frmIndex.php GRAS Window for Online Payment of Stamp Duty in Maharashtra Step 2: Click on the 'Pay Without Registration' tab on the homepage. STAMPS TO BE USED -- Non-Judicial Stamp Paper Rule 6 or Special Adhesive Stamp Paper Rule 10 (ii). (c) when authorizing one person or more to act in a single transaction other than the case mentioned in clause (a); (d) when authorizing one person to act in more than one transaction or generally; (e) when authorizing more than one person to act in single transaction or more than one transaction jointly or severally or generally; (f) (i) when given for consideration and authorizing to sell an immovable property; The same duty as is leviable on a Conveyance under clause (a), (b) or (c), as the case may be of Article 25, on the market value of the property. Insection 31of the principal Act, in sub-section (4), in the proviso, for the word double the wordsfour timesshall be substituted. Maharashtra Stamp (Amendment) Act, 2015, Maharashtra Act No. The Bombay Stamp Act, 1958 now known as the Maharashtra Stamp Act, 1958 ("MSA") which came into force on 16th February, 1959 is the law for stamp duty within the State of Maharashtra. 394 of the Companies Act, 1956 or the order of the National Company Law Tribunal under sections 230 to 234 of the Companies Act, 2013 or every confirmation issued by the Central Government under section 233 (3) of the Companies Act, 2013, in respect of amalgamation, merger, demerger, arrangement or reconstruction of the companies ( including subsidiaries of parent company ); and every order made by the Reserve Bank of India under section 44A of the Banking Regulation Act, 1949 in respect of amalgamation or reconstruction of Banking Companies and every order made by the Board for Industrial and Financial Reconstruction under section 18 or 19 of the Sick Industrial Companies (Special Provisions) Act, 1985, in respect of sanction of Scheme specified therein or every order made by the National Company Law Tribunal under section 31 of the Insolvency and Bankruptcy Code, 2016, in respect of approval of resolution plan. 2 0 obj