Himachal Pradesh cabinet approves uniform stamp duty rate of 12%

The cabinet on Thursday approved the levy of uniform stamp duty rate of 12% on transfer and lease transactions secured under Section 118(2)(H) of the Himachal Pradesh Tenancy and Land Reforms Act, 1972, with prior sanction from the state government.

The cabinet meeting, chaired by chief minister Sukhvinder Singh Sukhu, decided to promulgate an ordinance amending Schedule 1A of the Indian Stamp Act, 1899. This amendment will enable the levy of a uniform stamp duty rate of 12%.