Nagpur: Inflation has hit the rooftop and the same is stamped through a decision by Maharashtra Government that has virtually sounded death knell for the stamp paper of Rs 100. This is so as the Government has mandated minimum Rs 500 stamp paper for every work.
This is done to make-up for heavy outgo on slew of new welfare schemes launched on eve of election. Incidentally, the rates were increased through an ordinance issued on October 14, just beating the deadline as the Election Commission announced a poll scheduled for Maharashtra Assembly soon after. Across the board the increase is aimed at collecting nearly Rs 150 crore annually as citizens of late need to submit an affidavit for which stamps are in demand.
Today’s Rate
Sat19 Oct. 2024
Citizens who are required to submit affidavits, need agreements, appeasement or valuation and apprenticeship deed, will now have to purchase stamp paper of Rs 500. Earlier for the same work only Rs 100 stamp paper would have sufficed. Affidavits are commonly required these days for rental agreement, for students seeking scholarship, and many other mundane works.
For registering Articles of Association, the rates have been increased from 0.2 percent to maximum Rs. 50 lakh to Rs. 0.3 percent to Rs 1 crore. Even for a work contract, Protest of Bill or Note now Rs 500 stamp is going to be required. In all now everything is going to become costly as the State eyes newer ways to fill-up its empty coffers.
