Punjab cabinet remits additional stamp duty on property registration till year-end

The Punjab cabinet on Thursday remitted 3% additional stamp duty (security fund) levied on property registration in urban areas (municipal corporation and class-1 municipalities) up to December 31, 2023

Chandigarh : The Punjab cabinet on Thursday remitted 3% additional stamp duty (security fund) levied on property registration in urban areas (municipal corporation and class-1 municipalities) up to December 31, 2023.

The Punjab cabinet on Thursday remitted 3% additional stamp duty (security fund) levied on property registration in urban areas (municipal corporation and class-1 municipalities) up to December 31, 2023.

The decision was taken at a meeting of the council of ministers chaired by chief minister Bhagwant Mann. This move will provide concession to property buyers in urban areas.

The cabinet also gave its consent for sending the case of two life convicts confined in the jails of the state for seeking premature release. After the nod of the cabinet under Article 163 of the Constitution, these special remission/premature release cases will be submitted to the governor under Article 161 of the Constitution for consideration.

It also gave green signal to a policy to regularise existing standalone buildings such as hotels, multiplexes, farmhouses, educational, medical, industrial institutes and others, constructed without permission of the department outside the municipal limits, urban estates and industrial focal points. Under this policy, opportunity will be given till December 31, 2023, to apply for regularisation of standalone buildings, constructed without prior permission. “The public may avail the benefit of this policy by submitting requisite documents along with CLU, EDC, SIF, regularization fees, processing fees and mining charges, as per the applicability,” an official release said. The cases received under this policy will be disposed of within six months.

The cabinet also gave approval to the proposal for introduction of the Punjab Goods and Services Tax (Amendment) Bill-2023 to make certain amendments in Punjab Goods and Services Tax Act-2017 in consonance of directions of GST Council. In order to facilitate taxpayers and to promote “ease of doing business”, certain amendments in the Punjab Goods and Service Tax-2017 are proposed such as constitution of GST Appellate Tribunal and state benches thereof, decriminalisation of certain offences, facilitation of small traders to supply goods through e-commerce operators, consent-based sharing of information and legal provisions for taxation of online gaming and others, the release said.