RNI No. MAHENG / 2009 / 35528
महाराष्ट्र शासन राजपत्र
असाधारण भाग आठ
वर्ष ७, अंक २५(३)] गुरुवार, डिसेंबर २३, २०२१/पौष २, शके १९४३ [ पृष्ठे ६, किंमत : रुपये २७.००
असाधारण क्रमांक ६८
प्राधिकृत प्रकाशन
महाराष्ट्र विधानमंडळाचे अधिनियम व राज्यपालांनी प्रख्यापित केलेले अध्यादेश व केलेले विनियम आणि
विधि व न्याय विभागाकडून आलेली विधेयके (इंग्रजी अनुवाद).
In pursuance of clause (3) of article 348 of the Constitution of India, the following translation in English of the Maharashtra Stamp (Amendment) Bill, 2021 (L. A. Bill No. XXXVII of 2021), introduced in the Maharashtra Legislative Assembly on the 23rd December 2021, is hereby published under the authority of the Governor.
By order and in the name of the Governor of Maharashtra,
SATISH WAGHOLE,
I/c. Secretary (Legislation) to Government,
Law and Judiciary Department.
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L. A. BILL No. XXXVII OF 2021.
A BILL
further to amend the Maharashtra Stamp Act.
WHEREAS it is expedient further to amend the Maharashtra Stamp LX of 1958.
Act for the purposes hereinafter appearing; it is hereby enacted in the Seventy-second Year of the Republic of India, as follows:—
Short title.
1. This Act may be called the Maharashtra Stamp (Amendment) Act, 2021.
2. In SCHEDULE I appended to the Maharashtra Stamp Act,—
LX of 1958.
Amendment of SCHEDULE I of LX of 1958.
(1) in article 6,—
(a) in clause (1), in sub-clause (b), in column (2),—
(i) for the words "ten lakh rupees" the words "twenty lakh rupees" shall be substituted ;
(१)
भाग आठ--६८----१२ महाराष्ट्र शासन राजपत्र असाधारण भाग आठ, डिसेंबर २३, २०२१/पौष २, शके १९४३ (ii) the following proviso shall be inserted, namely:– "Provided that, in case of instrument executed in favour of consortium of banks, the duty chargeable shall not exceed fifty lakh rupees.";
(b) in clause (2), in sub-clause (b), in column (2),—
(i) for the words "ten lakh rupees" the words "twenty lakh rupees" shall be substituted;
(ii) the following proviso shall be inserted, namely:– "Provided that, in case of instrument executed in favour of consortium of banks, the duty chargeable shall not exceed fifty lakh rupees.";
(2) in article 33, in clause (b), for sub-clause (ii), the following sub- clause shall be substituted, namely:—
"(ii) if possession is not so given,–
(A) if the amount of further 0.1 per cent. of the amount of charge secured by such deed further charge secured by such does not exceed rupees deed, subject to minimum of one five lakhs, hundred rupees;
(B) in any other case, 0.3 per cent. of the amount of
further charge secured by such
deed, subject to maximum of
twenty lakh rupees.";
(3) in article 40, in clause (b), in sub-clause (ii), in column (2),—
(i) for the words "ten lakh rupees" the words "twenty lakh rupees" shall be substituted;
(ii) the following proviso shall be inserted, namely:—
"Provided that, in case of instrument executed in favour of consortium of banks, the duty chargeable shall not exceed fifty lakh rupees.";
(4) for article 41, the following article shall be substituted, namely :–
"41. MORTGAGE OF CROP,
including any instrument
evidencing an agreement to
secure the repayment of a loan
made upon any mortgage of a
crop whether the crop is or is
not in existence at the time
of mortgage,—
महाराष्ट्र शासन राजपत्र असाधारण भाग आठ, डिसेंबर २३, २०२१/पौष २, शके १९४३ ३(i) if the amount secured by 0.1 per cent. of the amount
such deed does not exceed secured by such deed, subject
rupees five lakhs, to the minimum of one
hundred rupees;
(ii) in any other case, 0.3 per cent. of the amount
secured by such deed, subject
to the maximum of twenty
lakh rupees.";
(5) for article 54, the following article shall be substituted, namely :–
"54. SECURITY BOND OR
MORTGAGE DEED, where
such security bond or mortgage
deed is executed by way of
security for the due execution
of an office, or to account for
money or other property
received by virtue thereof, or
by a surety to secure the due
performance of a contract, or
in pursuance of an order of
the court or a public officer,
not being otherwise provided
for by the Maharashtra
XXXVI of 1959.
Court-fees Act,—
(i) if the amount secured by 0.1 per cent. of the amount
such deed does not exceed secured by such deed, subject
rupees five lakhs, to the minimum of one hundred
rupees;
(ii) in any other case, 0.3 per cent. of the amount
secured by such deed, subject to
the maximum of twenty lakh
rupees:
Provided that, where on
an instrument executed by a
person for whom a person
stands surety and executes
security bond or a mortgage
deed, duty has been paid under
article 40, then the duty
payable shall be one hundred
rupees.".
भाग आठ--६८----२४ महाराष्ट्र शासन राजपत्र असाधारण भाग आठ, डिसेंबर २३, २०२१/पौष २, शके १९४३
Exemptions
Bond or other instrument,
when executed,—
(a) by any person for the
purpose of guaranteeing that
the local income derived from
private subscriptions to a
charitable dispensary or
hospital or any other object
of public utility shall not be
less than a specified sum per
mensem ;
(b) under the rules made by
the State Government under
section 114 of the Maharashtra
Mah. XXVIII of 1976.
Irrigation Act, 1976 ;
(c) by a person taking advance
under the Land Improvement
Loans Act, 1883 or the
Agriculturists Loans Act, 1884
XIX of 1883. XII of 1884.
or by their sureties as security
for the repayment of such
advances ;
(d) by officers of the Government
or their sureties to secure the due
execution of an office or due
accounting for money or
other property received by
virtue thereof.
महाराष्ट्र शासन राजपत्र असाधारण भाग आठ, डिसेंबर २३, २०२१/पौष २, शके १९४३ ५STATEMENT OF OBJECTS AND REASONS
The stamp duty chargeable on the instrument evidencing mortgage by deposit of title deeds chargeable under article 6 of Schedule I appended to the Maharashtra Stamp Act (LX of 1958) was less than the simple mortgage deed chargeable under article 40 of the said Schedule before commencement of the Maharashtra Stamp (Amendment and Validation) Act, 2021 (Mah. III of 2021) (hereinafter referred to as "the said amending Act"). Therefore, by the said amending Act, the stamp duty chargeable on the instruments of mortgage by deposit of title deeds and simple mortgage deed under the said articles 6 and 40, respectively, have been made uniform. To accommodate revenue deficit due to the said amendment, maximum stamp duty limit of rupees ten lakh is specified in the said articles 6 and 40 needs to be increased to rupees twenty lakh.
2. In view of the judgement of the Hon'ble Supreme Court in the case of Chief Controller Revenue Authority, Gujarat Vs. Coastal Gujarat Power Limited (Civil Appeal No. 6054 of 2015), section 5 of the said Act have been amended by the said amending Act with a view to levy stamp duty in respect of any instrument comprising or relating to several distinct transactions.
Due to this amendment of section 5, in case of instrument of mortgage by consortium of banks, each bank is liable to pay stamp duty in respect of an amount secured by such deed subject to maximum of ten lakh rupees. The Government, therefore, considers it expedient to specify maximum ceiling of stamp duty of rupees fifty lakh in case of instrument related to mortgage executed in favour of consortium of banks so as to support the industrial and commercial sector and to encourage timely payment of stamp duty.
3. The Government also considers it expedient to amend certain ancillary articles to articles 6 and 40 in respect of mortgage such as article 33 (further charge on mortgage property), article 41 (mortgage of crop) and article 54 (security bond or mortgage deed) to harmonize the levy of stamp duty in respect of mortgage under the said Act.
4. The Bill seeks to achieve the above objectives.
Mumbai, BALASAHEB THORAT,
Dated the 20th December 2021. Minister for Revenue.
६ महाराष्ट्र शासन राजपत्र असाधारण भाग आठ, डिसेंबर २३, २०२१/पौष २, शके १९४३FINANCIAL MEMORANDUM
Clause 2 of the Bill proposes to amend articles 6, 33, 40, 41 and 54 in Schedule I of the Maharashtra Stamp Act (LX of 1958), with a view to harmonize the levy of stamp duty in respect of mortgage under the said Act. There is no provision in the Bill which would involve the recurring or non-recurring expenditure from the Consolidated Fund of the State on its enactment as an Act of the State Legislature.
ON BEHALF OF GOVERNMENT PRINTING, STATIONERY AND PUBLICATION, PRINTED AND PUBLISHED BY DIRECTOR, RUPENDRA DINESH MORE, PRINTED AT GOVERNMENT CENTRAL PRESS, 21-A, NETAJI SUBHASH ROAD, CHARNI ROAD, MUMBAI 400 004 AND PUBLISHED AT DIRECTORATE OF GOVERNMENT PRINTING, STATIONERY AND PUBLICATIONS, 21-A, NETAJI SUBHASH ROAD, CHARNI ROAD, MUMBAI 400 004. EDITOR : DIRECTOR, RUPENDRA DINESH MORE.