Why wait for notification on slashed stamp duty getting longer?
By Baljit Balli
Chandigarh, August 9, 2017: People across Punjab are waiting anxiously for the government to notify its decision of slashing stamp duty by 3 percent to avail the benefit while getting their properties registered.
The government had announced this decision during the budget session of the Vidhan Sabha in June but in absence of the notification even after one and half month, the process of property registration in the state has almost come to a standstill.
.The Cabinet meeting held on August 4 had approved this duty benefit but formal notification has not been issued yet even as this is causing loss to the people and the state exchequer.
Babushahi.com has learnt that instead of a direct notification, the government will have to take Ordinance route to implement this decision because it is actually not the stamp duty but Cess on infrastructure which has been withdrawn.
This Cess was imposed by the previous SAD-BJP government under Infrastructure Development Act. So this can be removed by amending the Act which can be done either passing a Bill in the Vidhan Sabha or by issuing an Ordinance.
The government is learnt to have decided to issue the Ordinance to implement its decision.
A top functionary of the Revenue Department told babushahi.com that issuance of the Ordinance might take at least 10 days due to procedural requirements. As part of this, the file will be first sent to the state’s Legal Remembrance.
The properties will be registered on revised rate of stamp duty on the basis of the notification after the Ordinance comes into force.