India:
Maha Stamp Act - Increase In Cap
25 January 2022
Juris Corp
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Maharashtra State Legislature has brought changes in Maharashtra
Stamp Act, 1958 vide the following amendment
Acts.
Maharashtra Stamp (Amendment) Act, 2021
Key change-
Cap on stamp duty in respect of security documents has been
increased from INR 10 Lakh to INR 20 Lakh. In case of security
being in favour of consortium of banks the same has been set at INR
50 Lacs.
Maharashtra Stamp (Second Amendment and Validation) Act,
2021
Key change-
The definition of 'conveyance' has been retrospectively
amended to include the following-Order made by the Board for
Industrial and Financial Reconstruction under section 18 or 19 of
the Sick Industrial Companies (Special Provisions) Act, 1985, and
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. Consequential changes have been made to the stamp
schedule.
https://www.dropbox.com/s/z34hwfoxlfp5oeu/Maharashtra%20Stamp%20%28Amendment%29%20Act%2C%202021.pdf?dl=0
https://www.dropbox.com/s/sjngeuxt92bxg9v/Maharashtra%20Stamp%20%28Second%20Amendment%20and%20Validation%29%20Act%2C%202021.pdf?dl=0
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