THE BOMBAY STAMP ACT, 1958 - Igrmaharashtra.gov.in
THE BOMBAY STAMP ACT, 1958 - Igrmaharashtra.gov.in
THE BOMBAY STAMP ACT, 1958 - Igrmaharashtra.gov.in
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(1) any <strong>in</strong>strument executed by or on behalf of, or <strong>in</strong> favour of, theGovernment <strong>in</strong> cases, where, but for this exemption, the Government would beliable to pay the duty chargeable <strong>in</strong> respect of such <strong>in</strong>strument 3 [or where theGovernment has undertaken to bear the expenses towards the payment of theduty];__________________(2) any <strong>in</strong>strument for the sale, transfer or other disposition, eitherabsolutely or by way of mortgage or otherwise, of any ship orvessel, or any part, <strong>in</strong>terest, share or property of or <strong>in</strong> any ship orvessel registered under the Bombay Coast<strong>in</strong>g Vessels Act, 1838,or 4 [Merchant Shipp<strong>in</strong>g Act, <strong>1958</strong>].1. This proviso was <strong>in</strong>serted by the Maharashtra Tax Laws (Levy andAmendment ) Act, 1998 No. 21 of 1998 s.6(a) (w.e.f. 10.12.1985)2. these words were substituted for the words “provided that” by theMaharashtra Tax Laws (Levy and Amendment) Act, 1998, No. 21 of 1998s.6(6) (w.e.f. 1-5-1998)3. These words were added, by Mah. 27 of 1985, s 3(a), (w.e.f. 10.12.1985).4. These words are figures were substituted for the words and figures “IndiaRegistration of Ships Act, 1841”, by Mah. 27 of 1985, s 3(a), (w.e.f.10.12.1985).4. Several <strong>in</strong>struments used <strong>in</strong> s<strong>in</strong>gle transaction of sale, mortgage or settlement.(1) Where, <strong>in</strong> the case of any sale, mortgage or settlement, several <strong>in</strong>struments areemployed for complet<strong>in</strong>g the transaction, the pr<strong>in</strong>ciple <strong>in</strong>strument only shall bechargeable with the duty prescribed <strong>in</strong> Schedule I for the conveyance, mortgage orsettlement, and each of the other <strong>in</strong>struments shall be chargeable with a duty of 1 [twentyrupees] <strong>in</strong>stead of the duty (if any) prescribed for it <strong>in</strong> that Schedule.(2) The parties may determ<strong>in</strong>e for themselves which of the <strong>in</strong>struments so employedshall, for the purposes of sub-section (1), be deemed to be the pr<strong>in</strong>cipal <strong>in</strong>strument.2 [(3) If the parties fail to determ<strong>in</strong>e the pr<strong>in</strong>cipal <strong>in</strong>strument between themselves, thenthe officer before whom the <strong>in</strong>strument is produced may, for the purposes of this section,determ<strong>in</strong>e the pr<strong>in</strong>cipal <strong>in</strong>strument:]provided that the duty chargeable on the <strong>in</strong>strument so determ<strong>in</strong>ed shall be the highestduty which would be chargeable <strong>in</strong> respect of any of the said <strong>in</strong>struments employed.__________________1. These words were substituted, for the words “ten repees”, by Mah. 9 of 1997, s. 6(w.e.f. 15.9.1996)2. sub section (3) was <strong>in</strong>serted, by Mah. 27 of 1985, s. 4(b), (w.e.f. 10.12.1985)