On October 14, 2024, the Revenue and Forests Department of Maharashtra introduced significant reforms to the state’s stamp duty structure by releasing Maharashtra Ordinance No. XII of 2024. These amendments to the Maharashtra Stamp Act, 1958, will impact a wide range of documents leading to increased costs for individuals and businesses alike.
The Ordinance has increased the stamp duty payable on affidavits, agreements and related documents to Rs. 500 from Rs. 100. It has further amended various other articles of the Act as set out in the table below.
| Article | Description of Instrument | Stamp duty before Ordinance | Stamp duty post Ordinance |
| 4 | Affidavit | Rs. 100 | Rs. 500 |
| 5(h)B | Agreement (if not otherwise provided for) | Rs. 100 | Rs. 500 |
| 8 | Appraisement or Valuation | Rs. 100 | Rs. 500 |
| 9 | Apprenticeship Deed | Rs. 100 | Rs. 500 |
| 10 | Articles of Association of a Company | 0.2 per cent on share capital or increased share capital, as the case may be, subject to a maximum of Rs. 50,00,000. | 0.3 per cent on share capital or increased share capital, as the case may be, subject to a maximum of Rs. 1,00,00,000. |
| 12 | Award | ||
| (a) relating to immovable property | Rs. 500 | Same as leviable on conveyance under article 25(b) | |
| (b) relating to movable property | |||
| (i) Amount granted upto Rs. 50 lakh
|
Rs. 500 | 0.75% | |
| (ii) Amount granted above Rs. 50 lakh upto Rs. 5 crores | Rs. 37,500 + 0.5% of the amount granted in the award | ||
| (iii) Amount granted above Rs. 5 crores | Rs. 2,62,500 + 0.25% of the amount granted in the award | ||
| 27 | Counterpart or Duplicate | Same as payable on the original, maximum Rs. 100 | Same as payable on the original, maximum Rs. 500 |
| 30 | Divorce | Rs. 100 | Rs. 500 |
| 38 | Letter of Licence | Rs. 100 | Rs. 500 |
| 44 | Note of Protest by the Master of a Ship | Rs. 100 | Rs. 500 |
| 47(1)(b) | Partnership
(b) where such share contribution brought in by way of cash is in excess of Rs. 50, 000 |
One per cent of the amount of share contribution, maximum Rs. 15,000 | One per cent of the amount of share contribution, maximum Rs. 50,000 |
| 49 | Protest of Bill or Note | Rs. 100 | Rs. 500 |
| 50 | Protest by the Master of a Ship | Rs. 100 | Rs. 500 |
| 52(a) | Release – Ancestral Property | Rs. 200 | Rs. 500 |
| 58(a) | Surrender of Lease – Without any consideration | Rs. 200 | Rs. 500 |
| 63 | Works Contract | ||
| (a) Upto Rs. 5 lakh | Rs. 500 | Rs. 500 | |
| (b) Above Rs. 5 lakh | Rs. 500 | Rs. 500 + 0.3% of the amount above Rs. 5 lakh, maximum Rs. 25,00,000 | |
For a complete reference to the updated provisions, the full text of the Ordinance can be accessed here.
For more information about the aforesaid development you may write to us at: solutions@bridgeheadlaw.com.
Karan Narvekar | Partner
Missba Zariwala | Associate
Views expressed are personal to the authors and do not constitute as legal advice.
