-
Sections
Section 1 - Short title and commencement
INDIAN STAMP
(GOA AMENDMENT) ACT, 2013
Preamble - INDIAN STAMP (GOA AMENDMENT) ACT, 2013
THE INDIAN STAMP (GOA AMENDMENT) ACT, 2013
[Act No. 11 of 2013]
[21st May, 2013]
PREAMBLE
An ACT further to amend the Indian Stamp Act, 1899 (2 of 1899), as
in force in the State of Goa.
Be it enacted by the
Legislative Assembly of Goa in the Sixty-fourth Year of the Republic of India,
as follows:--
Section 1 - Short title and commencement
(1)
This Act may be called the Indian Stamp (Goa Amendment) Act, 2013.
(2)
It shall come into force on such date as the Government may, by
notification in the Official Gazette, appoint.
Section 2 - Amendment of section 2
In the Indian Stamp Act,
1899 (2 of 1899), as in force in the State of Goa (hereinafter referred to as
the "principal Act"), in section 2,--
(i) clause
(1) shall be renumbered as clause (1A) and before clause (1A) so renumbered,
the following clause shall be inserted, namely:--
"(1)
"Association" means any association, exchange, organization or body
of individuals, whether incorporated or not, established for the purpose of
regulating and controlling business of the sale or purchase of, or other
transaction relating to, any goods or marketable securities;";
(ii) for
clause (10), the following clause shall be substituted, namely:--
"(10)
"Conveyance" includes,--
(i)
a conveyance on sale;
(ii)
every instrument;
(iii)
every decree or final order of any Civil Court;
(iv)
every order made by the High Court under section 394 of the
Companies Act, 1956 (Central Act 1 of 1956) in respect of amalgamation or
reconstruction of companies; and every order made by the Reserve Bank of India
under section 44 A of the Banking Regulation Act, 1949 (Central Act 10 of 1949)
in respect of amalgamation or reconstruction of Banking Companies, by which
property, whether movable or immovable, or any estate or interest in any
property is transferred to, or vested in, any other person, inter vivos, and
which is not otherwise specifically provided for by Schedule I or by Schedule
I-A, as the case may be.
Explanation:--An instrument
whereby a co-owner of any property transfers his interest to another co-owner
of the property and which is not an instrument of partition, shall, for the
purposes of this clause, be deemed to be an instrument by which property is
transferred inter vivos;";
(v) after
clause (16A), the following clause shall be inserted, namely:--
"(16B) "market
value", in relation to any property which is the subject matter of an
instrument, means the price which such property would have fetched if sold in
open market on the date of execution of such instrument, or the consideration
stated in the instrument, whichever is higher;".
Section 3 - Amendment of section 3A
In section 3A of the
principal Act, in sub-section (1), after the first proviso, the following
provisos shall be inserted, namely:--
"Provided further that
in case of a mining lease for bauxite, the duty payable under sub-section (1)
shall not exceed the amount in rupees arrived at by applying a rate of 0.1
times annual extraction of mineral permitted under the Environmental clearance
issued for such mining lease under the relevant law in force, multiplied by the
period of the lease:
Provided further that in
case of a mining lease for manganese, the duty payable under sub-section (1) shall
not exceed the amount in rupees arrived at by applying a rate of hundred times
annual extraction of mineral permitted under the Environmental clearance issued
for such mining lease under the relevant law in force, multiplied by the period
of the lease:
Provided further that in
case of a mining lease for more than one mineral and having Environmental
clearance thereof the duty payable shall be computed by taking into account
total stamp duty payable on each of such minerals:".
Section 4 - Insertion of new section 10A
After section 10 of the
principal Act, the following new section shall be inserted, namely:--
"10A. Stock exchange
etc., to deduct stamp duty from trading member's account
Notwithstanding anything
contained in this Act, in case of transactions through stock exchange or an
association as defined in clause (a) of section 2 of the Forward Contracts
(Regulation) Act, 1952 (Central Act 74 of 1952), the stock exchange or, as the
case may be, an association, shall collect the due stamp duty by deducting the
same from the trading member's account at the time of settlement of such
transactions. The stamp duty so collected shall be transferred to the
Government Treasury or Sub-Treasury in the manner specified by the Chief
Controlling Revenue Authority.
Explanation:--For the
purpose of this section, "stock exchange" means the stock exchange as
defined in clause (j) of section 2 of the Securities Contracts (Regulation)
Act, 1956 (Central Act 42 of 1956).".
Section 5 - Amendment of section 47A
In section 47A of the
principal Act,--
(i)
for the expression "conveyance, exchange or gift",
wherever it occurs, the expression "conveyance, exchange, gift,
certificate of sale, deed of partition, power of attorney, deed of settlement
or transfer of lease by way of assignment" shall be substituted;
(ii)
in sub-section (3), after the existing proviso, the following
proviso shall be inserted, namely:--
"Provided that nothing
in this sub-section shall apply to any instrument of certificate of sale, deed
of partition, power of attorney, deed of settlement or transfer of lease by way
of assignment registered before the date of commencement of the Indian Stamp
(Goa Amendment) Act, 2013.".
Section 6 - Amendment of Schedule I-A
In Schedule I-A of the
principal Act,--
(i)
against Article 2, in column (2), for the words "Hundred
rupees" and "fifty rupees", the words "Two hundred
rupees" and "Five hundred rupees" shall be respectively
substituted;
(ii)
against Article 3, in column (2), for the words "Fifty
rupees", the words "One thousand rupees" shall be substituted;
(iii)
against Article 4, in column (2), for the words "Twenty
rupees", the words "Fifty rupees" shall be substituted;
(iv)
for Article 5, the following Article shall be substituted,
namely:--
"5. AGREEMENT OR
MEMORANDUM OF AN AGREEMENT--
|
(a) if relating to the sale of a Bill
of exchange |
One hundred rupees. |
|
(b) if relating to the purchase or
sale of Government security or share in an incorporated company or other body
corporate |
Twenty paise for every rupees ten or
part thereof of value of the security or share. |
|
(c) if relating to an agreement for
the sale of an immovable property |
2.9 percent of the market value of
the immovable property, subject to a minimum duty of rupees one hundred and rounded
up to the nearest hundred in its multiples thereof. |
|
(d) if not otherwise provided for.... |
One thousand rupees. |
Exemptions
|
Agreement or memorandum of
agreement-- (a) for or relating to the sale of
goods or merchandise exclusively not being a NOTE or MEMORANDUM chargeable
under Article 42; |
|
|
(b) made in the form of tenders to
the Central Government for or relating to any loan; AGREEMENT TO LEASE. See LEASE
(Article 34). |
"; |
(v)
against Article 7, in column (2), for the words "Fifty
rupees", the words "One hundred rupees" shall be substituted;
(vi)
against Article 8, in column (2), for the words "Twenty
rupees", the words "Five hundred rupees" shall be substituted;
(vii)
against Article 9, in column (2), for the words "Ten
rupees", the words "One hundred rupees" shall be substituted;
(viii)
against Article 17, in column (2), for the words "Fifteen
rupees", the words "One hundred rupees" shall be substituted;
(ix)
against Article 18, in column (2), for the expression
"article 23 for a consideration equal to the amount of the purchase
money", the expression "Article 22, on the market value of the
property" shall be substituted;
(x)
against Article 19, in column (2), for the words "Ten
rupees" the words "One hundred rupees", shall be substituted;
(xi)
against Article 20, in column (2), for the words "Thirty
rupees" the words "One hundred rupees" shall be substituted;
(xii)
for Article 21, the following Article shall be substituted,
namely:--
"21. COMPOSITION-DEED,
|
that is to say any instrument executed
by a debtor except an agreement, whereby he conveys his property for the
benefit of his creditors, or whereby payment of a composition or dividend on
their debts is secured to the creditors, or whereby provision is made for the
continuance of the debtor's business under the supervision of inspectors or
under letters of licence, for the benefit of his creditors. |
Two hundred rupees. "; |
(xiii) for
Article 25, the following Article shall be substituted, namely:--
"25. CUSTOMS-BOND OR
EXCISE-BOND
|
(a) where the amount does not exceed
Rs. 2,500/- |
The same duty as a Bond (Article 15)
for such amount. |
|
(b) in any other case |
One hundred rupees. "; |
|
(xiv) for Article 30, the following
Article shall be substituted, namely:-- "30. EXCHANGE OF PROPERTY-Instrument of- |
The same duty as is leviable on a
conveyance under clause (a) or (b), as the case may be, of Article No. 22, on
the total market value of the properties exchanged. |
|
EXTRACT-See Copy (Article 23) EXCISE BOND-See Customs Bond or Excise
Bond (Article 25). |
"; |
(xv)
against Article 32, in column (2), for the expression "as the case may be
of Article 22 for a consideration equal to the value of the property", the
expression "as the case may be, of Article 22, on the market value of the
property" shall be substituted;
(xvi)
against Article 33, in column (2), for the expression "The same duty as a
security Bond (Article 57) for the same amount", the words "Five
hundred rupees" shall be substituted;
(xvii)
after Article 34, the following new Article shall be inserted, namely:--
"34A. LEAVE AND
LICENCE AGREEMENT--
|
(a) if relating to residential
premises |
Five hundred rupees |
|
(b) if relating to non-residential
premises |
One thousand rupees "; |
(xviii)
against Article 38, in column (2), for the words "One hundred and fifty
rupees", the words "Five hundred rupees" shall be substituted;
(xix)
against Article 41, in column (2), for the words "Twenty rupees", the
words "Thirty rupees" shall be substituted;
(xx)
against Article 44, in column (2), for the expression "for the amount of
the value", the expression "on the market value" shall be
substituted;
(xxi) for
Article 45, the following Article shall be substituted, namely:--
"45. PARTNERSHIP--
|
(2) Instrument of partnership-- (a) where there is no share of
contribution in partnership, or where such share contribution brought in by
way of cash does not exceed rupees 50,000/- |
Five hundred rupees. |
|
(b) where such share contribution
brought in by way of cash is in excess of rupees 50,000/-, for every rupees
50,000/- or part thereof |
Five hundred rupees, subject to a
maximum duty of rupees five thousand. |
|
(c) where such share contribution is
brought in by way of property, excluding cash |
The same duty as is leviable on
conveyance under clause (a) or (b), as the case may be, of Article 22, on the
market value of such property. |
|
(2) Dissolution of partnership or
retirement of partner-- (a) where on a dissolution of the
partnership or on retirement of a partner any property is taken as his share
by a partner other than a partner who brought in that property as his share
of contribution in the partnership |
The same duty as is leviable on a conveyance
under clause (a) or (b), as the case may be, of Article 22, on the market
value of such property, subject to a minimum of rupees one hundred. |
|
(b) in any other case |
Two hundred rupees. "; |
(xxii)
for Article 48, the following Article shall be substituted, namely:--
|
"48. POWER OF ATTORNEY not being
a Proxy:-- (a) when executed for the sole
purpose of procuring the registration of one or more documents in relation to
a single transaction or for admitting execution of one or more such documents |
One hundred rupees. |
|
(b) when required in suits or
proceedings under the Presidency Small Cause Courts Act, 1882 (15 of 1882) |
One hundred rupees. |
|
(c) when authorising one person or
more to act in a single transaction other than the case mentioned in clause
(a) |
One hundred rupees. |
|
(d) when authorising one person to
act in more than one transaction or generally |
One hundred rupees. |
|
(e) when authorising more than one
person to act in single transaction or more than one transaction jointly or
severally or generally |
One hundred rupees. |
|
(f) when authorizing to sell or
transfer immovable property,-- |
|
|
(i) if given to the father, mother,
brother, sister, wife, husband, daughter, son, grandson, grand-daughter or
such other close relative; and |
Five hundred rupees. |
|
(ii) in any other case |
The same duty as is leviable on a
conveyance under clause (a) or (b), as the case may be, of Article 22, on the
market value of the property. |
|
(g) when given to a promoter or
developer by whatever name called, for construction on, development of, or
sale or transfer (in any manner whatsoever) of, any immovable property |
The same duty as is leviable on a
conveyance under clause (a) or (b), as the case may be, of Article 22, on the
market value of the property. |
|
(h) in any other case |
One hundred rupees for each person
authorised. |
|
Explanation I.-- For the purpose of this Article more
persons than one when belonging to the same firm shall be deemed to be one
person. Explanation II.-- The term 'registration' includes
every operation incidental to registration under the Registration Act, 1908
(16 of 1908). Explanation III.-- Where under clause (f), duty has been
paid on the power of attorney, and a conveyance relating to that property is
executed in pursuance of power of attorney between the executant of the power
of attorney and the person in whose favour it is |
|
|
executed, the duty on conveyance
shall be the duty calculated on the market value of the property reduced by
duty paid on the power of attorney. |
"; |
(xxiii)
against Article 50, in column (2), for the words "Four rupees", the
words "One hundred rupees" shall be substituted;
(xxiv)
against Article 51, in column (2), for the words "Five rupees", the
words "One hundred rupees" shall be substituted;
(xxv)
against Article 54, in column (2), for the words "Fifty rupees", the
words "One thousand rupees" shall be substituted;
(xxvi)
after Article 54, the following new Article shall be inserted, namely:--
|
"54A. RECORD OF TRANSACTION
(Electronics or otherwise) effected by a trading member through a stock
exchange or the association referred to in section 10A-- (a) if relating to sale or purchase
of Government securities |
0.005 percent of the value of
security. |
|
(b) if relating to purchase or sale
of securities, other than those falling under item (a) above-- |
|
|
(i) in case of delivery |
0.005 percent of the value of
security. |
|
(ii) in case of non-delivery |
0.005 percent of the value of
security. |
|
(c) if relating to futures and
options trading |
0.005 percent of the value of the futures
and options trading. |
|
(d) if relating to forward contracts
of commodities traded through an association or otherwise |
0.005 percent of the value of the
forward contract. |
|
Explanation I.-- For the purpose of clause (b),
"securities" means the securities as defined in clause (h) of
section 2 of the Securities Contract (Regulation) Act, 1956 (Central Act 42
of 1956). |
"; |
(xxvii)
for Article 55, the following Article shall be substituted, namely:--
|
"55. RELEASE, that is to say,
any instrument (not being an instrument as is provided by section 23A)
whereby a person renounces a claim upon other person or against any specified
property,-- (a) if the release deed of an
ancestral property or part thereof is executed by or in favour of brother or
sister (children of renouncer's parents) or son or daughter or son of
pre-deceased son or daughter of pre--deceased son or father or mother or
spouse of the renouncer or the legal heirs of the above relations |
One thousand rupees. |
|
(b) in any other case |
The same duty as is leviable on a
conveyance under clause (a) or (b), as the case may be, of Article 22, on the
market value of the share, interest, part or claim renounced. "; |
|
(xxviii) for Article 59, the
following Article shall be substituted, namely:-- "59. SHARE WARRANTS to bearer
issued under the Companies Act, 1956 (1 of 1956), for every rupees five
hundred or part thereof |
Five rupees. |
|
Exemption Share warrant when issued
by a company in pursuance of the provisions of section 114 of the Companies
Act, 1956 (1 of 1956), to have effect only upon payment as composition for
that duty, to the Collector-- |
|
|
(a) one and a half per centum of the
whole subscribed capital of the company, or |
|
|
(b) if any company which has paid the
said duty or composition in full subsequently issues in addition to its
subscribed capital, one and a half per centum of the additional capital so
issued. SCRIP, See Certificate (Article 19). |
"; |
(xxix)
against Article 60, in column (2), for the words "One rupee", the
words "One hundred rupees" shall be substituted;
(xxx) for
Article 61, the following Article shall be substituted, namely:--
|
"61. SURRENDER OF LEASE
including an agreement for surrender of lease-- (a) without any consideration |
One thousand rupees. |
|
(b) with consideration |
The same duty as is leviable on a
conveyance under clause (a) or (b), as the case may be, of Article 22, on the
amount of consideration. |
|
Explanation.-- For the purposes of this Article,
return of money paid as advance or security deposit by lessee to the lessor
shall not be treated as consideration for the surrender. |
"; |
|
(xxxi) for Article 63, the following
Article shall be substituted, namely:-- "63. TRANSFER OF LEASE by way of
assignment and not by way of underlease or by way of decree or final order
passed by any Civil Court or any Revenue Officer |
The same duty as is leviable on a
conveyance under clause (a) or (b), as the case may be, of Article 22, on the
market value of the property, which is the subject matter of transfer. "; |
(xxxii)
for Article 64, the following Article shall be substituted, namely:--
|
"64. TRUST--A. Declaration
of-of, or concerning, any property when made by any writing not being a
Will,-- (a) where there is disposition of
property,-- |
|
|
(i) where the Trust is made for a
religious or charitable purpose |
Ten rupees for every rupees five
hundred or part thereof of a sum equal to the amount settled or market value
of the property settled. |
|
(ii) in any other case |
The same duty as is leviable on a
conveyance under clause (a) or (b), as the case may be, of Article 22, for a
sum equal to the amount settled or the market value of the property settled. |
|
(b) where there is no disposition of
property,-- (i) where the trust is made for a
religious or charitable purpose |
The same duty as a Bond (Article 15)
for a sum equal to the amount settled or market value of the property
settled, but not exceeding two hundred rupees. |
|
(ii) in any other case |
The same duty as a Bond (Article 15)
for a sum equal to the amount settled or market value of the property
settled. |
|
B. Revocation of--of, or concerning,
any property when made by any instrument other than a Will |
The same duty as a Bond (Article 15)
for a sum equal to the amount settled or market value of the property
settled, but not exceeding two hundred rupees. |
|
VALUATION-See Appraisement (Article
8). |
"; |
|
(xxxiii) after Article 65, the
following new Article shall be inserted, namely:-- "66. WORKS CONTRACT, that is to
say, a contract for works and labour or services involving transfer of
property in goods (whether as goods or in some other form) in its execution
and includes a sub-contract,-- |
|
|
(a) where the amount or value set
forth in such contract does not exceed rupees ten lakh |
One hundred rupees. |
|
(b) where it exceeds rupees ten lakh |
One hundred rupees for every rupees
one lakh or part thereof in excess of rupees ten lakh, subject to a maximum
of rupees five lakh. "; |