The Maharashtra government on December 7 issued a notification detailing the percentage of waivers applicable to stamp duty fees and penalties under the newly-introduced stamp duty amnesty scheme called ‘Mudrank Shulakh Abhay Yojana’.
This scheme introduced last month aims to prompt individuals to settle outstanding stamp duty dues, offering discounts on penalty fees related to delayed stamp duty payments.
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According to the notification, instruments executed between January 1, 1980, and December 31, 2000, fall under Phase 1 of the scheme, running from December 1, 2023, to January 31, 2024.
During this period, a full waiver (100%) on both stamp duty and penalties will be granted for amounts ranging from Rs 1 to Rs 1 lakh. For amounts exceeding Rs 1 lakh, a 50 per cent rebate on stamp duty fees and a complete waiver on penalties will be provided.
Likewise, the second phase, spanning from February 1 to March 31, 2024, offers reduced benefits. For amounts up to Rs 1 lakh, an 80 per cent reduction in stamp duty fees and penalties will be granted. Amounts surpassing Rs 1 lakh will receive a 40 per cent reduction in stamp duty fees and a 70 per cent reduction in penalties.
The state government, during its recent Cabinet meeting on November 23, introduced the Maharashtra Mudrank Shulakh Abhay Yojana 2023.
“In respect of deeds executed between January 1, 1980, and December 31, 2020, but not filed or registered, the entire stamp duty and penalty payable to the revenue department will be exempted under the Abhay Yojana Scheme,” a statement issued by the government said earlier.
For instruments executed between January 1, 2000, and December 31, 2020, Phase 1 (December 1, 2023, to January 2024) offers a 25 per cent reduction in stamp duty fees for amounts up to Rs 25 crore. A 20 per cent reduction applies if the stamp duty fees exceed Rs 25 crore. Additionally, for penalties below Rs 25 lakh, a 90 per cent rebate is provided, and for penalties surpassing Rs 25 lakh, only Rs 25 lakh is required to be paid, with the remaining balance being waived.
Phase 2 (February 1 to March 31, 2024) mirrors the same reductions in stamp duty fees, with a 20% reduction for amounts up to Rs 25 crore and a 25% reduction for amounts exceeding Rs 25 crore. As for penalty payments, an 80% reduction applies for amounts less than Rs 50 lakh, and for amounts surpassing Rs 50 lakh, only Rs 50 lakh is payable, with any excess amount being waived, given that the stamp duty fees are up to Rs 25 crore.
In cases where the stamp duty exceeds Rs 25 crore, any penalty amount surpassing Rs 2 crore will be waived.
Ramesh Prabhu, chairman of the Maharashtra Societies kalyan Association, highlighted significant concerns regarding the recent notification. He noted a prevalent ambiguity among various offices regarding the administration of the stamp duty amnesty scheme. The confusion mainly revolves around the responsibility division between the sub-registrar and the collector of stamps, particularly concerning registered and unregistered documents.
One crucial omission in the notification is the absence of guidelines on identifying pending registered documents. There is a doubt whether notifications will be adequately disseminated, given past instances of individuals not receiving them. Prabhu proposed a proactive approach, suggesting that the government make pending stamp duty payment details for registered documents available on their website. This way, people can independently check and benefit without solely relying on door-to-door notifications.
Addressing another pressing issue of untraceable documents, estimated at around 20,000 cases, Prabhu emphasized the need for clarity. Individuals possessing only photocopies or receipts of registered documents might face challenges. He raised the question of whether such receipts or copies would be accepted under the amnesty scheme and how this large group of individuals would benefit if not.
Regarding the stamping of new unregistered documents, often handled at collector’s offices occupied with election duties, Prabhu proposed a solution. Given the timeline constraints of the amnesty scheme, he suggested accepting online applications.
Moreover, he recommended that these offices utilise their bandwidth to call in individuals for payments instead of requiring physical filing. This approach aims to prevent document misplacement while ensuring timely processing.
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