NON-COMPLIANCE LEADING TO STAMP DUTY LOSSES; DISCIPLINARY ACTION WARNED AGAINST ERRING OFFICIALS
Face2News/Chandigarh
Haryana Financial Commissioner Revenue and Disaster Management Department, Dr. Sumita Misra has directed all Divisional Commissioners and Deputy Commissioners in the State to ensure compulsory registration of orders issued by the National Company Law Tribunal (NCLT) and court decrees, in accordance with the prescribed legal provisions.
In an official communication, Dr. Misra stated that it has come to the notice of the Government that Chief Revenue Officers (CROs), Sub-Registrars (SRs), and Joint Sub-Registrars (JSRs) have not been fully complying with earlier instructions issued on November 13, 2013, and the notification dated November 22, 2017, regarding registration of NCLT orders and court decrees.
She pointed out that in cases pertaining to NCLT orders, stamp duty is leviable at the rate of 1.5 percent under Article 23-A of Schedule 1-A of the Indian Stamp Act, 1899, subject to a maximum cap of Rs. 7.5 crore. Similarly, non-bona fide court decrees are also covered under the same provision. Due to non-compliance with these statutory provisions, the State exchequer has reportedly suffered substantial losses in stamp duty revenue.
Dr. Misra emphasized that strict adherence to the provisions of the Indian Stamp Act must be ensured and that proper stamp duty assessment and registration in such cases should be carried out without exception.
She further observed that in several instances, stay orders issued by competent courts relating to the transfer of immovable property are not being entered in the Jamabandi records upon receipt in the offices of Sub-Registrars. This omission, she noted, amounts to a violation of court orders. Accordingly, Circle Revenue Officers (CROs) have been directed to ensure that any stay order received from a competent court is promptly reflected in the revenue records.
The Financial Commissioner Revenue has asked all Divisional Commissioners and Deputy Commissioners to circulate these instructions to all concerned revenue officers under their control and to ensure strict compliance in letter and spirit. Any lapse in this regard, she warned, shall invite disciplinary action against the defaulting officials.