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In a move to enhance revenue, the Maharashtra government has announced the scrapping of Rs 100 and Rs 200 stamps, mandating that all transactions be conducted using Rs 500 stamps. The implementation of this new regulation will commence on Wednesday, following the Governor's promulgation of an ordinance to amend the Maharashtra Stamp Act on Monday.Previously, Rs 100 stamps were commonly used for general transactions, including affidavits, rent agreements, loan-related documents, educational affidavits, accumulated letters, and sale agreements. With the recent changes, individuals will now face an additional cost of Rs 400 for these services. Additionally, the Rs 200 stamp, previously utilized for waivers of rights, will also be replaced with a Rs 500 stamp, significantly increasing expenses for residents.People will also incur an extra stamp duty if they wish to create a final sale deed for previously signed agreements. The ordinance outlines that this amendment aims to simplify and standardize the imposition of stamp duty while boosting government revenue.Also Read| Mumbai Toll Tax Exemption: Maharashtra Cabinet Approves Toll Waiver for Light Vehicles at 5 Toll Nakas.The financial strain of numerous populist schemes is impacting the government's budget. Consequently, the government is implementing these measures to generate additional revenue in light of funding shortages for other initiatives.Stamp Vendors in Kolhapur to Meet District Collector Over Price HikeWith over 5,500 stamp vendors across the state, those in Kolhapur district—numbering more than 100—are raising concerns about the recent increase in stamp prices. Currently, vendors receive a commission of Rs 3 for each Rs 100 stamp sold.Stamp vendors argue that a Rs 100 stamp is affordable for the common man seeking to file affidavits, and they believe it is unjust for citizens to pay Rs 500 for the same service. As a result, they plan to meet with the District Collector on Wednesday to demand a reduction in the five-fold price hike."The government's decision will have a significant financial impact on the common man. We are protesting against this decision, especially since the government assured us in writing in 2023 that it would not discontinue the Rs 100 and Rs 500 stamps. We strongly oppose this price hike," said Shankar Bhise, President, Stamp Sellers' Documents Association, Maharashtra State.

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Maharashtra :Maharashtra Government Waives ₹500 Stamp Duty on Essential Affidavits; Easing Financial Burden on Citizens

In a landmark decision aimed at reducing the financial burden on parents and citizens, the Maharashtra government, has announced ... ...

Maharashtra :Maharashtra Stamp Paper Price Hike: ₹500 Stamp Made Mandatory as ₹100, ₹200 Stamps Halted; Implementation Starts Today

In a move to enhance revenue, the Maharashtra government has announced the scrapping of Rs 100 and Rs 200 ... ...