Chief Minister Bhupendra Patel has decided to give a big discount in the amount of duty payable for housing transfers to small and middle class families in the state. According to this important revenue decision, out of the hundred percent duty payable for transfers made by societies, associations and non-trading corporations through allotment letters, share certificates, only 20 percent duty will be collected by waiving up to 80 percent of the duty amount. Such amount payable under Section 9 (a) of the Gujarat Stamp Act, 1958 will be relaxed. Due to the provisions made by the Revenue Department of the state government in the Stamp Act, the financial burden that was faced by the middle class people in cases of such transfers will reduce. According to the decision taken by him in this regard, now only the amount of duty payable, including 20 percent of the original duty and the penalty amount, will be collected. Thus, by reducing the amount of stamp duty to be paid by the state government, the penalty in addition to the duty will be calculated, and the revised provision will be the same amount of duty to be paid in respect of the property before the same. After this decision, there will be no additional financial burden of penalty on the people in cases of transfer. The provisions of the notification to be issued pursuant to this decision will be applicable only to transfers made by societies, associations and non-trading corporations through allotment letters and share certificates.
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