Maharashtra government mulls giving extension up to December 31 for the stamp duty amnesty scheme which was notified on March 2. The scheme was introduced mainly for property holders and buyers who have not paid appropriate stamp duty at the time of executing and registering their property document. The scheme was to be concluded on August 31, 2019.
The scheme is currently applicable only on the conveyance and transfer documents submitted on or before December 31, 2018. Prior to the launch of the amnesty scheme, unpaid stamp duty or deficit stamp duty on conveyance and transfer attracted penalty of 4% per month to a maximum of 400% on the deficit amount. However, the total penalty amount is only 10% of the deficit amount under the scheme.
State Revenue Department officer told DNA, "It is under revenue department's active consideration to extend the amnesty scheme up to December 31. The department is mulling an option of making the amnesty scheme applicable to commercial properties too. However, the final call will be taken by the state cabinet.''
Under the current amnesty scheme, application will have to be made by the property holder or buyer himself or herself who is a party to the conveyance or transfer document of his or her legal heir or representative or power of attorney holder. There is no provision of refund or repayment of penalty paid on the deficit stamp duty in the past to the government. The applicant will have to unconditionally withdraw any appeal or reassessment appeal in the courts or tribunal.
Scheme
Under the current amnesty scheme, application will have filed by the property holder who is a party to the conveyance or transfer document of his or her legal heir or representative
