Last year, in October, the government significantly increased stamp duty in 2018 as part of a communication under the Indian Stamp (Haryana Amendment). Stamp duty on the long-term credit contract has been increased from 10 to 2 trillion euros, as well as a mortgage agreement of 10 to 2,000. Stamp duty of 2,000 aff. on different types of loan contracts, calculated under the Indian Stamp Act of 1899 in Haryana, increased the agreement of cash loans, loans and overdrafts from $120 billion to $2,000 billion. Similarly, stamp duty on diek`s agreement on education credits has been significantly increased, from Rs 10 to 2000. In addition, stamp paper for the execution of loan agreements against gold jewellery has been increased from 10 to 2,000 applications. The steep increase had a heavy impact on small borrowers. Reducing stamp duty will guarantee the interests of small and small farmers, farmers, as well as those who have benefited from small loans under the differential interest rate (DRI), vehicle loans, people willing to use locker facilities and those who wish to borrow through marginal loans, an official statement says. Haryana Additional Chief Secretary (Finance – Planning) TVSN Prasad assured bankers that the government would work on the terms and conditions and reduce stamp duty. There are different interest rates for different quantum credit depending on the latest change. Alternatively, buyers can also visit the Haryana Jamabandi website to calculate stamp duty. The Haryana government is increasing stamp duty rates for various instruments under the Indian Stamp (Haryana Amendment), 2018 stamp duty and registration fees in Madhya Pradesh.
Buyers must pay stamp duty on the basis of the transaction value specified in the sales contract. However, land costs must be calculated accordingly on the basis of current circular rates and stamp duty. If the house is registered at a value higher than the district rate, the buyer must pay stamp duty on the highest amount. If the property is registered at a value below the circular rate, stamp duty is calculated at circular rates. To pay stamp duty and online registration fees, Haryana buyers must visit the online Government Receipts Accounting System (e-GRAS). The e-GRAS platform facilitates the collection of tax and non-tax revenues, both online and manual. To obtain electronic stamps, buyers must register on the portal. In 2018, the Haryana government increased registration fees for real estate registrations to 50,000 times, depending on their collector rate.
Previously, the government had billed up to 15,000 applications as a registration fee alone. The new levy applies to deeds of sale, deeds of donation, mortgage certificates, sales certificates, lease certificates, cooperation agreements, exchange certificates, division certificates and liquidation deeds.