Punjab Cabinet Approves Hike In Stamp Duty Rates To Mobilise Resources

FLASH: Punjab Cabinet has approved an ordinance to amend Schedule 1-A of Indian Stamp Act, 1899, to enable increase in stamp duty rates. Stamp duty rates for 17 of 65 items in Schedule 1-A stand to double following the amendment. Stamp duty on registration of property remains untouched. Punjab Cabinet has decided to amend Industrial and Business Development Policy 2017 to give investment incentive by way of Net SGST on intrastate sale, and has also given its nod to global tendering for the upcoming hi-tech Cycle Valley on a 100-acre industrial park in Ludhiana.
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