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THE INDIAN STAMP (BIHAR AMENDMENT) ACT, 1991
THE INDIAN STAMP (BIHAR AMENDMENT) ACT, 1991
AN ACT
TO AMEND THE INDIAN STAMP ACT, 1899 IN ITS APPLICATION TO THE STATE OF BIHAR
BE, it enacted by the Legislature of the State of Bihar in the forty second year of the Republic of India as follows.—
Short title, extent and commencement
1. (1) This Act may be called the Indian Stamp (Bihar Amendment) Act, 1991.
(2) It extends to the whole of the State of Bihar.
(3) It shall come into force on such date as the State Government may, by notification in the Bihar Gazette, appoint.
Insertion of new section after section 10 of Act 2, 1899
2. After section 10 of the Indian Stamp Act, 1899 (Act 2, 1899) (hereinafter referred to as the said Act) the following new section shall be inserted, namely:—
Payment of duty in cash
10-A. (1) Notwithstanding anything contained in section 10, where the Collector is satisfied that there is temporary shortage of stamp in the district or that stamps of required denomination are not available, he may permit duty to be paid in cash and authorise the Treasury or Sub-Treasury Officer, as the case may be on production of challan in evidence of payment of duty in the Government Treasury or Sub-Treasury to certify by endorsement on the instruments the amount of duty so paid in cash.
(2) An endorsement made on any instrument under sub-section (1) shall have the same effect as if the duty, of an amount equal to the amount stated in the endorsement has been paid in respect thereof and such payment has been indicated on such instrument by means of Stamp in accordance with the requirement of section 10.”
Amendment in section 47 A of Act 11 of 1899
3. (1) In section 47A of the said Act as inserted by Bihar Act 15, 1988 after the words “Set forth in the instrument” the words “or is less than even the minimum value determined in accordance with any rules made under this Act” shall be inserted.
(2) In section 47A of the said Act as inserted by Bihar Act, 15, 1988 the words “after registering” shall be substituted by the words “at the time of admitting”.
Amendment in section 75 of Act 11 of 1899
4. In section 75 of this said Act the word “in no case exceed five hundred rupees” shall be inserted by “be minimum five hundred rupees or equivalent to the amount of duty evaded whichever is more”.
Substitution in Schedule 1A of Act 11 of 1899
5. In Schedule 1a of the said Act as amended by Bihar Stamp (Amendment) Act, 1937 (Bihar Act VI of 1937)—
(1) in serial No. 15, the entries “and for every Rs.500 or part thereof in excess of Rs.1,000” appearing in column 1 and “four rupees twenty five paise, 1 ½ percent and 2 percent respectively” appearing in column 2, the following entries shall be inserted namely,—
|
Column 1 |
Column 2 |
|
For every Rs.500 or part thereof where it exceeds Rs.1,000 and does not exceed Rs.5,000. |
Rs.12.00 + 110% surcharge |
|
Where it exceeds Rs.5,000 but does not exceed Rs.50,000; and |
Rs.2.5 per cent of the value of the instrument + 110% surcharge |
|
Where it exceeds Rs.50,000 |
3 percent of the value of the instrument + 110% surcharge |
(2) In serial number 23, for the entries “and for every Rs.500 or part thereof in excess of Rs.1,000” appearing in column 1 and “eight rupees fifty paise, 2 ¼ per cent and 3 ½ per cent” appearing in column 2, the following entries shall be inserted, namely,—
|
Column 1 |
Column 2 |
|
For every Rs.500 or part thereof where it exceeds Rs.1,000 and does not exceed Rs.5,000. |
Rs.25.00 + 110% surcharge |
|
Where it exceeds Rs.5,000 but does not exceed Rs.50,000; and |
Rs.5 per cent of the value of the instrument + 110% surcharge |
|
Where it exceeds Rs.50,000 |
7 percent of the value of the instrument + 110% surcharge |
