Maharashtra Government Introduces Bill to Revise Stamps Act
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Synopsis
On March 19, 2025, the Maharashtra government introduced a bill to amend the Maharashtra Stamps Act of 1958, aimed at increasing stamp duty as proposed in Deputy CM Ajit Pawar's budget for 2025-26 to boost revenue.
Key Takeaways
- Maharashtra Stamps Act amendment proposed.
- Stamp duty revisions to increase revenue.
- Online payment options for stamp duty.
- Increased adjudication fee from Rs 100 to Rs 1,000.
- Budget includes Rs 7 lakh crore with revenue deficits.
Mumbai, March 19 (NationPress) The government of Maharashtra has introduced a bill aimed at modifying the Maharashtra Stamps Act, 1958. This action follows a proposal by Deputy Chief Minister and Finance Minister Ajit Pawar during his budget presentation for 2025-26, which aims to enhance revenue by adjusting stamp duty on specific documents.
The bill was presented late Tuesday night by Minister of State Yogesh Kadam in the state Assembly.
The amendment to Section 4 of the Stamp Act seeks to raise the stamp duty rate, which has remained at a nominal sum of Rs 100 to Rs 500 for supplementary documents when multiple documents are required for a transaction.
Furthermore, amendments to Sections 10 and 10D are proposed to enable online payment (e-payment) and introduce a new provision for an 'e-stamp certificate,' allowing individuals to settle stamp duty payments online anytime and from any location.
Additionally, the bill states, “Subsection (1) of section 31 of the Stamp Act is suggested for amendment to increase the adjudication fee from Rs 100 to Rs 1,000 for instrument changeability, requiring an opinion from the Collector and mandating a deposit of the specified stamp duty when filing for adjudication of the executed instrument.
Deputy CM Ajit Pawar has unveiled a budget of Rs 7 lakh crore for 2025-26, which anticipates a revenue deficit of Rs 45,891 crore, a fiscal deficit of Rs 1.36 lakh crore, and a debt stock amounting to Rs 9.32 lakh crore.
He has projected the state’s own tax revenue at Rs 3.87 lakh crore for 2025-26, in contrast to the revised estimate of Rs 3.67 lakh crore for 2024-25.
During his budget address, Pawar indicated a hope to generate an additional revenue of approximately Rs 1,200 crore through the proposed revisions in stamp duty and Motor Vehicle Tax, given the limitations on introducing new taxes or increasing existing ones in the GST framework.
