The Governor of Maharashtra on October 14, 2024, issued the Maharashtra Stamp (Amendment) Ordinance, 2024, amending various articles containing stamp duty rates in Schedule I (“Amendment”) of the Maharashtra Stamp Act, 1958 (“MSA”). The amendment came into effect immediately.
Article in Schedule I of the MSA | Description | Stamp duty before the Amendment | Stamp duty after the Amendment |
Article 4 | Affidavit, that is, a statement of facts in writing, signed by the person making it and confirmed under oath or, by affirmation if permitted under law. | INR 100 | INR 500 |
Article 5(h)(B) | Agreement or its Records or Memorandum of an Agreement, if not otherwise provided for. | INR 100 | INR 500 |
Article 8 | Appraisement or Valuation, that is conducted without a court order during the course of a suit. | INR 100 | INR 500 |
Article 9 | Apprenticeship Deed, including any written document related to the service or training of an apprentice, clerk, or servant who is learning a trade or profession under a master, excluding formal articles of clerkship. | INR 100 | INR 500 |
Article 10 | Articles of Association, where the Company has no share capital or nominal share capital or increased share capital. | 0.2% on share capital or increased share capital, as the case may be subject to a maximum of INR 50,00,000. | 0.3% on share capital or increased share capital, as the case may be subject to a maximum of INR 1,00,00,000. |
Article 12 | Arbitration Award, that is, any decision in writing by an arbitrator or umpire, on a reference made. |
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| INR 500 | Same as conveyance under Article 25(b) of MSA. | |
| 0.75% of the amount granted in the award. | ||
| INR 37,500 plus 0.5% of the amount granted in the award. | ||
| INR 2,62,500 plus 0.25% of the amount granted in the reward. | ||
Article 27 | Counterpart or Duplicate of any instrument chargeable with duty and in respect of which the proper duty has been paid. | Maximum INR 100 | Maximum INR 500 |
Article 30 | Divorce, any instrument by which any Person effects the dissolution of his marriage. | INR 100 | INR 500 |
Article 38 | Letter of License, that is, any agreement between a debtor and creditor, that the creditor shall, for a specified time, suspend his claims and allow the debtor to carry on his business at his own discretion. | INR 100 | INR 500 |
Article 44 | Note of protest by the ship master | INR 100 | INR 500 |
Article 47(1)(b) | Partnership, inclusive of, Limited Liability Partnership and Joint Venture, where such share contribution brought in by way of cash is in excess of INR 50,000. | 1% of the amount of share contribution subject to maximum of INR 15,000. | 1% of the amount of share contribution subject to maximum of INR 50,000. |
Article 49 | Protest of Bill or Note, that is, any written statement by a Notary Public (or someone legally acting in that role), attesting the dishonour of a bill of exchange or promissory note | INR 100 | INR 500 |
Article 50 | Protest by master of Ship, any declaration of the particulars of their voyage drawn up by him with a view to the adjustment of losses or the calculation of averages, and every declaration in writing made by him against the charterers or the consignees for not loading or unloading the ship, when such declaration is attested or certified by a Notary Public or other person lawfully acting as such. | INR 100 | INR 500 |
Article 52(a) | Release, ancestral property or part thereof. | INR 200 | INR 500 |
Article 58(a) | Surrender of Lease, including an agreement for surrender of lease without any consideration. | INR 200 | INR 500 |
Article 63 | Works contracts, that is, a contract for works and labour or services involving transfer of property in goods in its execution and includes a sub-contract. |
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| INR 500 | INR 500 | |
| INR 500 plus 0.1% of the amount above INR 10,00,000 subject to maximum of INR 25,00,000 | INR 500 plus 0.3% on the amount above INR 5,00,000 subject to maximum of INR 25,00,000 |
