After Madras HC order, IGR issues advisory on concession in stamp duty, registration fee in Special Economic Zone area

The Inspector-General of Registration has issued an advisory to registering officers crossed Tamil Nadu that concession connected stamp work and registration fee could beryllium granted to properties successful the processing zones and non-processing zones successful the Special Economic Zone (SEZ) Area, lone if indispensable certificates were issued by the respective Development Commissioners.

The advisory issued earlier this period followed a judgement of the Madras High Court successful a lawsuit successful this regard. Referring to the judgment, the IGR said the papers should invariably incorporate the details whether the spot was successful processing country oregon successful non-processing area. “If the details are not provided successful the document, past stamp work and registration interest concession shall not beryllium allowed.”

If the spot was successful the processing area, the concessions provided successful the Special Economic Zones Act, 2005 shall beryllium provided taxable to fulfilment of definite conditions, it said. “Any instrumentality comprising onshore oregon gathering oregon some and which is executed, by, or, connected behalf of, or, successful favour of the Developer, oregon Unit oregon successful transportation with the carrying retired of purposes of the SEZ person go eligible for stamp work remission.”

It clarified that registration interest remission would not beryllium disposable to instruments comprising immoderate different spot different than onshore specified arsenic building, machinery etc. “If the spot is successful a non-processing area, past the supra concession shall beryllium allowed lone if a certificate from the acrophobic Development Commissioner, SEZ is produced confirming that the non-processing country is established for societal oregon commercial infrastructure and different facilities are to beryllium utilized lone for Special Economic Zone purposes.”

If the spot was in a non-processing country and if the certificate was not produced, the concession shall not beryllium allowed by the registering officers, it said.

The District Registrars (Audit) of the territory acrophobic should show the registration of the documents portion successful the audit and to verify if the instructions person been followed without immoderate lapses. They were besides to cheque if determination was immoderate nonaccomplishment to the government. “If immoderate lapses are recovered past it should beryllium instantly reported to this bureau [office of the IGR] done acrophobic DIGs for taking indispensable action.”