REVENUE AND FORESTS DEPARTMENT

Mantralaya, Madam Cama Marg, Hutatma Rajguru Chowk,

Mumbai 400 032, dated the 14th October 2024.

MAHARASHTRA ORDINANCE No. XII OF 2024.

AN ORDINANCE

further to amend the Maharashtra Stamp Act.

WHEREAS, both Houses of the State Legislature are not in session;

AND, WHEREAS, the Governor of Maharashtra is satisfied that

circumstances exist which render it necessary for him to take immediate

action further to amend the Maharashtra Stamp Act, for the purposes

hereinafter appearing;

LX of

1958.

RNI No. MAHENG /2009/35528

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In pursuance of clause (3) of article 348 of the Constitution of India, the following translation

in English of the Maharashtra Stamp (Amendment) Ordinance, 2024 (Mah. Ord. XII of 2024), is

hereby published under the authority of the Governor.

By order and in the name of the Governor of Maharashtra,

SATISH WAGHOLE,

Secretary (Legislation) to Government,

Law and Judiciary Department.

[Translation in English of the Maharashtra Stamp (Amendment) Ordinance, 2024 (Mah. Ord.

XII of 2024), published under the authority of the Governor].

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(1)

2

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Short title

and

commencement.

Amendment of

SCHEDULE I

of LX of 1958.

LX of

1958.

NOW, THEREFORE, in exercise of the powers conferred by clause (1)

of article 213 of the Constitution of India, the Governor of Maharashtra is

hereby pleased to promulgate the following Ordinance, namely :—

1.

(1) This Ordinance may be called the Maharashtra Stamp

(Amendment) Ordinance, 2024.

(2) It shall come into force at once.

2.

In SCHEDULE I appended to the Maharashtra Stamp Act,—

(1) in article 4, in column (2), for the words “One hundred rupees”

the words “Five hundred rupees” shall be substituted;

(2) in article 5, in clause (h), in sub-clause (B), in column (2), for

the words “One hundred rupees” the words “Five hundred rupees” shall

be substituted;

(3) in article 8, in column (2), for the words “One hundred rupees”

the words “Five hundred rupees” shall be substituted;

(4) in article 9, in column (2), for the words “One hundred rupees”

the words “Five hundred rupees” shall be substituted;

(5) in article 10, in column (2), for the figures, words and letters

“0.2 per cent. on share capital or increased share capital, as the case

may be, subject to a maximum of Rs. 50,00,000”, the figures and words

“0.3 per cent. on share capital or increased share capital, as the case

may be, subject to a maximum of rupees One Crore” shall be substituted;

(6) for article 12, the following article shall be substituted,

namely :—

“12.

AWARD, that is to say,

any decision in writing by

an arbitrator or umpire, on

a reference made otherwise

than by an order of the Court

in the course of a suit, being

an award made as a result

of a written agreement to

submit present or future

differences to Arbitration

but not being an award

directing partition,—

(a)

relating to immovable

The same duty as is leviable

property;

on a conveyance under

clause (b) of article 25.

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3

(b)

relating to movable

property,—

(i)

where the amount

0.75 per cent. of the amount

granted in the award,

granted in the award.

does not exceed

rupees fifty lakhs ;

(ii)

where the amount

Rupees thirty seven

granted in the award,

thousand five hundred plus

exceeds rupees

0.5 per cent. of the amount

fifty lakhs but does

granted in the award.

not exceed rupees

five crores;

(iii) where the amount

Two lakhs sixty two

granted in the award,

thousand five hundred

exceeds rupees

rupees plus 0.25 per cent.

five crores;

of the amount granted

in the award. ”;

(7) in article 27, in column (2), for the words “rupees one hundred” the

words “rupees five hundred” shall be substituted;

(8) in article 30, in column (2), for the words “One hundred rupees” the

words “Five hundred rupees” shall be substituted;

(9) in article 38, in column (2), for the words “One hundred rupees” the

words “Five hundred rupees” shall be substituted;

(10) in article 44, in column (2), for the words “One hundred rupees”

the words “Five hundred rupees” shall be substituted;

(11) in article 47, in clause (1), in sub-clause (b), in column (2), for the

words “fifteen thousand” the words “fifty thousand” shall be substituted;

(12) in article 49, in column (2), for the words “One hundred rupees”

the words “Five hundred rupees” shall be substituted;

(13) in article 50, in column (2), for the words “One hundred rupees”

the words “Five hundred rupees” shall be substituted;

(14) in article 52, in clause (a), in column (2), for the words “Two

hundred rupees” the words “Five hundred rupees” shall be substituted;

(15) in article 58, in clause (a), in column (2), for the words “Two

hundred rupees” the words “Five hundred rupees” shall be substituted;

(16) in article 63,—

(i) in clause (a), in column (1), for the words “ten lakh” the words

“five lakh” shall be substituted;

(ii) in clause (b),—

(A) in column (1), for the words “ten lakh” the words “five

lakh” shall be substituted;

(B) in column (2), for the figures and words “0.1 per cent. of

the amount above rupees ten lakh” the figures and words “0.3 per

cent. of the amount above rupees five lakh” shall be substituted.

4

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STATEMENT

With a view to bring simplicity and uniformity in levy of stamp duty

and to increase the Government revenue, it is proposed to amend certain

articles of Schedule I appended to the Maharashtra Stamp Act (LX of 1958).

2.

The salient features of the proposed amendments to the said Act

are as under :—

(i) to increase rate of stamp duty fixed long ago at the nominal

amount of rupees hundred or rupees two hundred on certain

instruments specified in articles 4, 5, 8, 9, 27, 30, 38, 44, 49, 50, 52 and

58 to rupees five hundred;

(ii) to increase rate of stamp duty and maximum limit of rate of

stamp duty on the instrument of articles of association of a company

specified in article 10;

(iii) to increase rate of stamp duty on the instrument of award by

arbitrator specified in article 12;

(iv) to increase the maximum limit of rate of stamp duty on the

instrument of partnership, where share contribution brought in by way

of cash is in excess of rupees 50,000, specified in article 47;

(v) to increase the rate of stamp duty and maximum limit of

rate of stamp duty on the instrument of works contract specified in

article 63.

3.

As both Houses of the State Legislature are not in session and the

Governor of Maharashtra is satisfied that circumstances exists which render

it necessary for him to take immediate action further to amend the

Maharashtra Stamp Act, for the purposes aforesaid, this Ordinance is

promulgated.

Mumbai,

C. P. RADHAKRISHNAN,

Dated the 14th October 2024.

Governor of Maharashtra.

By order and in the name of the

Governor of Maharashtra,

RAJESH KUMAR,

Additional Chief Secretary to Government.

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.