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Clarification concerning brief rebates on Stamp Duty and IGR value/circle price

The State Government has decreased the chargeability of stamp obligation on files blanketed below Art. 23 (Conveyance) of Schedule — IA of the Indian Stamp Act, 1899, barring the file for ‘amalgamation of contiguous land, with the aid of 2% (two per cent), via the West Bengal Finance Act, 2021 (IX of 2021) examine with Order No. 738-F.T. dated 23/07/2021 and additionally allowed to decrease the prevailing Circle Rate/IGR Rate of all immovable homes through 10% (ten per cent), via Order No. 738-F.T. dated 23/07/2021, for the advantage of the Public in common to fight the monetary downturn due to COVID-19 pandemic. The rebates are of brief nature which will stay wonderful for the duration from 09/07/2021 to 30/10/2021.

The following clarifications may additionally be stated in this regard:

1)            Reduced stamp obligation fee will be relevant solely on Sale and different documents, stamp-duty on which are charged underneath Art. 23 (Conveyance) of Schedule — IA of the Indian Stamp Act, 1899, without the report for ‘amalgamation of contiguous land’.

2)            The Circle Rate/IGR Rate will be decreased for all immovable homes located inside the State of West Bengal throughout the duration from 09/07/2021 to 30/10/2021.

3)            For archives included underneath factor 1 above, each decreased stamp-duty fee and decreased Circle Rate/IGR Rate will be relevant simultaneously, whilst for archives outdoor the ambit of files blanketed below factor 1 above, solely the decreased Circle Rate/IGR Rate will be applicable.

4)            Both decreased stamp-duty charge and decreased Circle Rate/IGR Rate will be relevant solely to the archives which will be achieved and registered throughout the duration from 09/07/2021 to 30/10/2021 (both days inclusive).

5)            Neither decreased stamp-duty fee nor decreased Circle Rate/IGR Rate will be relevant to the archives which are performed inside the above-stated duration however no longer introduced for registration inside the stated rebate duration or carried out in the past however introduced for registration inside the stated rebate period.

6)            Neither decreased stamp-duty price nor decreased Circle Rate/IGR Rate will be relevant to any pending deed introduced for registration earlier than 09/07/2021.

7)            To avail the gain of decreased stamp-duty price or decreased Circle Rate/IGR Rate or both, the eAssessment Query Slip about any report wishes to be generated inside the stated rebate duration i.e. from 09/07/2021 to 30/10/2021.

8)            Neither the advantage of the decreased stamp-duty fee nor the advantage of decreased Circle Rate/IGR Rate will be relevant for e-Assessment Query Slips generated beforehand to 09/07/2021 and utilized for registration inside the stated rebate period.

9)            For Deeds of Agreement to sale (without possession) to be completed and registered inside the stated rebate period:

Case-1: For deeds in which 2% stamp obligation facility will be availed: For agreement, stamp responsibility @ 2% will be chargeable on the assessed market fee arrived on the groundwork of decreased Circle rate/IGR rate. If the last sale deed related to such settlement is completed and registered inside the stated rebate period, the advantages of decreased stamp obligation will additionally be relevant at the time of registration of closing sale deed. However, if the ultimate sale deed linked to such agreement is achieved and/or registered after the expiry of the stated rebate period, stamp obligation on such last sale deed will be chargeable at the charge prevailing at the time of registration of closing sale deed much less the stamp obligation paid at the time of registration of the agreement, however on market fee assessed on the foundation of decreased Circle Rate/IGR Rate at the time of registration of the agreement, as per proviso to Art. 23 in this respect.

Case-2: For deeds in which full stamp obligation will be paid: For agreement, the advantages of each decreased stamp responsibility charge and decreased Circle Rate/IGR Rate will be relevant for willpower of chargeability of stamp duty. At the time of registration of ultimate sale deed related to such settlement Rs.10/- solely will be charged as stamp obligation as per G.O. No. 346-F.T. dated 4″ March 2014 and registration charges will be charged on market fee assessed on the groundwork of decreased Circle Rate/IGR Rate at the time of registration of the agreement.

10)          For Final Sale Deeds related to any before registered settlement to sale besides possession to be finished and registered inside the stated rebate period:

Case-1: For deed in which 2% stamp responsibility was once paid at the time of registration of agreements and remaining sale deed is registered inside the stipulated length in phrases of the proviso to Art.23 (maximum 4 years from the date of agreement): Stamp responsibility on such ultimate sale deed will be chargeable at decreased stamp-duty charge much less the stamp obligation paid at the time of registration of the agreement, however on the foundation of market cost assessed at the time of registration of the agreement. The decreased Circle Rate/IGR Rate will additionally no longer be taken into consideration for the dedication of the quantity of registration rate payable at the time of registration of such remaining sale deed.

Case-2: For deed in which 2% stamp obligation used to be paid at the time of registration of agreements and ultimate sale deed is registered after the expiry of the stipulated length in phrases of the proviso to Art.23 (maximum 4 years from the date of agreement): Stamp responsibility on such remaining sale deed will be chargeable at a decreased stamp-duty price much less the stamp responsibility paid at the time of registration of the agreement, however on market price assessed on the groundwork of decreased Circle Rate/IGR Rate.

Case-3: For deed in which full stamp responsibility was once paid at the time of registration of agreements: Stamp obligation on such closing sale deed will be Rs.10/- solely as per GO No 346 F.T dated 4″ March 2014, and registration costs will be payable on market price assessed at the time of registration of the agreement.

11) The advantages of decreased stamp-duty charge and/or decreased Circle Rate/IGR Rate will additionally be relevant on files bearing on to immovable residences termed as Special Projects in the the e-Nathikaran system, if in any other case deem fit.

For further details please visit : https://wbregistration.gov.in/(S(zjw1ttnkh4i2yuslgzz0sygy))/Circular.aspx

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