Finance Deptt decides to switch over to e-Stamping mechanism

Finance Department has decided to switch over to e-stamping mechanism in Jammu and Kashmir.

As per the circular, the Financial Commissioner, Finance Department, Dr Arun Kumar Mehta, has taken decision to switch over to e-Stamping mechanism to prevent any inconvenience to the stamp duty payers during the transition period the Government (vide Government order number 234-FD of 2020 of August 27, 2020) has allowed the payments of stamp duty through challan in concerned treasuries on endorsement by officer authorized under section 10 (4) of Stamp Act, Samvat 1977.

“The document shall be endorsed by the concerned State Taxation Officer or Sub-Division Magistrate (SDM) of the area before being presented to the registering authority for registration,” reads the circular.

It states that all the Treasury Officers dealing with stamps accept the payments of stamp duty through challan. They should also report the sale/receipts of stamps to the District Treasury Officer concerned at the end of each working, who in turn shall share the same with the concerned State Taxation Officer/Sub-Division Magistrate of that area and Deputy Commissioner Stamps Jammu/Kashmir in case of Treasuries of Jammu and Srinagar District as the case may be.

It shall also be ensured by the treasury Officers that the stamp duty payers shall not be entitled to any commission/discount.