Sarbh was Regional Director of P&O Ports, South Asia and Middle East Region and Managing Director of NSICT when the concession contract was signed. The Bombay High Court has overturned the order of the Inspector General of Registration and the Stamp Controller of Maharashtra, which required Major Engineer L&T to pay an additional stamp duty of Rs 64.69 billion for its development agreement with the City and Industrial Development Corporation (Cidco) to implement the development of a complex integrated into Navi Mumbai Seawoods Station. The registration problem arose in 2004 when JN port signed a concession contract with a consortium led by APM Terminals Management BV, which won the auction for the construction of the third container terminal in the port. The registration of the concession contract « is a grey area, » said Ravi B. Budhiraja, president of JN Port between 2003 and 2006. An economic recovery committee set up by the government had previously recommended the concession for stamp duty for first-sale operations. In accordance with section 34 of the Maharashtra Stamp Act, amended in 2017, stamp duty on deeds of gift is 3% of the value of the property. However, if the property in question is real estate or agricultural property and is given (without payment) to family members, the stamp duty is Rs 200. The Maharashtra Stamp Act has been amended to accept online payments for stamp taxes on instruments executed in the state.
Follow these steps to pay your stamp duty online: Step 4: Select « Make payment to save your document ». Now you can choose to pay the stamp duty and registration fee together, or only the stamp duty or only the registration fee. The government hopes the concession will boost home buying in Maharashtra. Tax revenues from real estate transactions are the second highest turnover in the State, after the goods and services tax. See also: Mumbai HC rules cannot be levied for past transactions « We have been warned by our lawyers that this is a legal requirement and that we are following the law of the land, » said Dinesh Lal, chairman of Gateway Terminals India Pvt. Ltd, the company founded by APM Terminals to operate the third container terminal in the port of JN. Lal said Gateway Terminals paid ₹25.9 crore as stamp duty for the registration of the concession contract. According to the port authorities, the private cargo handling terminals operated in EU-controlled ports in Chennai, Tuticorin, Ennore, Cochin, New Mangalore, Kandla, Kolkata, Paradip and Mormugao have not registered their respective concession agreements. The concession contract for the Mundra Port Container Terminal, operated by DP World Pvt.
Ltd, has also not been registered. . . .