Gujarat Fixed Stamp Duty Rates New List Effective from 5-8-2019
The Gujarat government Tuesday proposed to hike stamp duty on registration of marriage among others and increase electricity tariff for industrial captive consumption in the 2019-2020 budget besides making substantial allocations for key sectors, including agriculture.
The proposed hike in stamp duty on various instruments and also power tariff will generate an additional revenue of Rs 287 crore for the government.
Deputy Chief Minister Nitin Patel, who also holds the finance portfolio, presented the states budget, which has a size of over Rs 2.03 lakh crore and focuses on development, for the remaining months of the current fiscal.
The budget, which has gone over Rs 2 lakh crore in size for the first time in the history of the state, shows a surplus of Rs 572.12 crore and proposes to spend around 62 per cent of the total budgeted amount on development works.
The government excepts to have revenue receipt of Rs 154731.96 crore in 2019-20 as against Rs 140531.72 crore in 2018-19.
Though Gujarat's tax income has declined by about Rs 4,000 crore after the implementation of GST, the effect is not seen in the budget as the Centre is compensating the state for the loss as of now, officials said.
Presenting his seventh budget in the assembly, Patel proposed to increase stamp duty charges for various instruments.
For stamp duty related to adoption deed, marriage registration, partnership and release of ancestral property in favour of legal heirs, the present rate of Rs 100 is proposed to be increased to Rs 200, he said.