look news india
Jaipur, 21 May (HS). The Rajasthan High Court has issued a notice to the state government seeking its response on the demand for separate stamp duty on documents other than the loan agreement for the security of payment while taking a loan from the bank. Along with this, the court has banned the collection of stamp duty from the petitioner. The division bench of Justice Pankaj Bhandari and Justice Shubha Mehta passed this order against Tab India Granites Pvt. Ltd. Gave on the petition of.
In the petition, advocate Mohit Khandelwal told the court that the petitioner firm had obtained a joint loan from Punjab National Bank, Bank of Baroda and IDBI Bank in the year 2014. During this time the petitioner had paid the stamp duty. In the year 2019, the Stamp Department issued a notice to the petitioner demanding additional stamp duty on the loan agreement. On this the petitioner paid additional stamp duty of Rs 25 lakh under the amnesty scheme. It was said in the petition that the Stamp Department issued a notice back to the petitioner in the year 2021 asking him to deposit separate stamp duty on other documents executed during the loan apart from the agreement. The petition said that along with the agreement, documents like mortgage deed and guarantee deed are also executed. As per the rules, the entire stamp duty is paid on the main document in proportion to the loan amount and on other related documents, there is a provision to pay only stamp duty of Rs 200 per document. Whereas the department is demanding complete stamp duty on each document separately. Due to which the stamp duty increases manifold. Hearing which, the Division Bench sought a reply from the State Government and put a stay on the recovery being made from the petitioner.
