Mumbai, Sep 30 (SocialNews.XYZ) The Maharashtra Cabinet during a meeting chaired by Chief Minister Eknath Shinde on Monday approved amendments to the Maharashtra Stamp Act proposing the increase in stamp duty on affidavits, agreements and related documents to Rs 500 from the present Rs 100.
The stamp duty on share capital has been increased to Rs 1 crore from Rs 50 lakh.
According to the revenue department, the amendments to the Maharashtra Stamp Act will help increase the revenue from the stamp duty and registration to the tune of almost Rs 2,000 crore. The amendment has been proposed on the lines of Karnataka.
"Schedule I to the Maharashtra Stamp Act is amended to simplify the charge ability under the various articles and, in general, wherever Rs 100 is provided, it is substituted by Rs 500. Article 4 is amended to charge a minimum stamp duty of Rs 500. An affidavit needs to be executed before government or semi-government departments are brought into the purview of this Article," said the state revenue department note submitted to the Cabinet.
Article 10 is amended to increase the stamp duty rate and the maximum limit on share capital and increased share capital.
Further, Article 47 is amended to change in minimum stamp duty of Rs 500 and maximum Rs 50,000 the instrument of partnership and to change stamp duty of Rs 500 in case of dissolution of a partnership.
Meanwhile, the cabinet also provided relief in stamp duty for rehabilitation of project affected persons of the Colaba-SEEPZ Metro three project. They will have to pay a stamp duty of flat Rs 1,000.
The Cabinet also took a decision to reduce the fee charged by the government to various departments for giving guarantees while raising loans.
The Cabinet decided not to completely waive but decrease the government guarantee fee which will get relief to various departments while raising the debt.
The government at present charges Rs 2 per hundred rupees annually which has now been reduced 50 paise. This revised fee will be applicable from April 1, 2023.
Furthermore, the Cabinet, in a bid to push the organ donation and transplantation and increase awareness, gave approval to establish a dedicated critical care department in hospitals and start postgraduate courses in it.
For this, 150 posts will be created in 25 government medical colleges. If it will not be possible to start such a course in any government medical college, the Maharashtra University of Health Sciences will provide a twelve-month fellowship in critical care.
Similarly, the post of Transplant Coordinator will be created in these colleges. Organ recovery centers will be established in these colleges.
India is the third-largest country in terms of annual organ transplants after the US and China. The total number of transplants in the country has increased from 4,990 in 2013 to 12,666 in 2019.
Source: IANS
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