Stamp Paper To Now Cost Minimum of Rs 500 in Maharashtra

Nagpur, 21st December 2024: The Maharashtra Legislative Council on Friday passed the Maharashtra Stamp (Amendment) Bill, 2024, which includes a significant increase in stamp duty on affidavits. The stamp duty on affidavits will now be ₹500, up from the previous ₹100.

The amendment follows an ordinance issued on October 14, based on a cabinet decision made on September 30. The bill was presented in the council on Friday and was approved without any changes or recommendations.

Cabinet Minister Radhakrishna Vikhe-Patil, while introducing the bill, stated, “The government’s aim is to ensure uniformity in stamp paper rates across the board. This move aligns with the state’s efforts to standardize charges and improve revenue collection.”

However, the hike has drawn criticism from some quarters. Leader of the Opposition Ambadas Danve expressed concerns about the financial burden this increase would impose, especially on students and individuals from rural areas. “Earlier, students could prepare affidavits for purposes like duplicate transfer certificates for just ₹50 or ₹100. Charging ₹500 for such affidavits is unfair. The government should consider alternatives like allowing self-attestation or at least franking, which would be more affordable,” Danve suggested.

Danve also highlighted the struggles faced by students from rural areas. “Many students coming from villages cannot afford to spend ₹500 or ₹1,000 each time they need an affidavit. This decision could discourage them from pursuing necessary formalities,” he added.

In addition to the increase in affidavit stamp duty, the amendment also raised the stamp duty on share capital from ₹50 lakh to ₹1 crore. The revenue department estimates that these changes will bolster the state’s income from stamp duty and registration fees by approximately ₹2,000 crore annually.

The revised rates are part of the government’s broader strategy to enhance revenue while addressing concerns of standardization. However, the opposition has urged the administration to revisit the decision and consider measures to ease the burden on students and rural populations.