Exemption sanctioned in the Stamp duty 2002

The 17th March 2022 ,l0vks0la0%& I@M1&190@2005/1595—In exercise of the powers conferred by clause (a) of sub-section (1) of Section-9 of the Indian Stamp Act, 1899, stamp duty is exempted by the the Governor of Bihar under Bihar Industrial Investment Promotion Policy, 2016 for High Priority Sectors as amended from time to time, Ethanol Production Promotion Policy, 2021, Oxygen Production Promotion Policy, 2021 and other similar policies approved by the Cabinet from time to time on the High Priority Sector Industrial units of the following class of documents up to the limits as shown against them. SI. No. Type of documents & description Exemption sanctioned in the Stamp duty 1 The Stamp Duty for Registering deeds related to land allotted to IDA/BIADA by the government. 100% (Hundred percent) exemption on the effective rate. 2 The Stamp duty for Registering deeds related to lease/purchase/transfer of industrial plots/shed and land outside Industrial Area Development Authority for establishing industries by the private investors. 100% (Hundred percent) exemption on the effective rate. 2. The Proposed provision of exemption is applicable in respect of industrial units which have obtained Stage-1 clearance from the State Investment Promotion Board constituted under the Bihar Industrial Investment Promotion Act, 2016. 3. It will be effective from the date of notification. 4. The exemption will be available to new units only. 5. The exemption shall be permitted on the first transaction and will not be applicable in subsequent stages on the documents of the lease/ sale/transfer. 6. The above exemption shall be permitted on and authority issued for this purpose in the name of investors by the Department of Industries with details of land and its location 7. In case, the private investor after getting the benefit of exemption for establishing industries do no follow in to prescribed industrial policies of the State Government regarding the investment, the amount of exemption shall be recovered from the investor by the Department of Industries. 8. The exemption shall be valid up to 31 March 2025 from the date of notification. By the Order of the Governor of Bihar, Add.Chief Secretary to the Government. Website: http://egazette.bih.nic.in