Regarding exemption of stamp duty under Uttar Pradesh Semiconductor Policy 2024

UTTAR PRADESH SHASAN STAMP EVAM NIBANDHAN ANUBHAG-2 In pursuance of provisions of clause (3) of Article 348 of the Constitution of India, the Governor is pleased to order the publication of the following English translation of Government Notification no. 6/2024/362/94-S.R.-2-2024- 700(08)/2024, dated 15 March, 2024 Notification Order No. 6/2024/362/94-S.R.-2-2024-700 (08)/2024 Lucknow : Dated 15 March, 2024 In exercise of the powers under clause (a) of sub-section (1) of section 9 of the Indian Stamp Act, 1899 (Act no. 2 of 1899) as amended from time to time in its application to Uttar Pradesh, the Governor is pleased to remit the stamp duty, under this notification, chargeable in respect of the instrument shown in Column-4 of the Schedule below, in accordance with the provisions of para 6.1.4 of the Uttar Pradesh Semi Conductor Policy 2024, to the eligible projects as described in sub-paragraph-4.2.1, 4.2.2, 4.2.3, 4.2.4 of paragraph-4.2 of the said policy, to the extent mentioned in column-3 of the table below:- SCHEDULE Uttar Pradesh Semi Conductor Policy 2024 Descriptions and Details Extent of Remission Nature of Instruments To the below mentioned projects as described in sub-paragraph-4.2.1, 4.2.2, 4.2.3, 4.2.4 of the policy- Establishment of Semi Conductor Fabs, Establishment of Display Fabs, Compound Semi Conductor, Silicon Photo Sensor Fabs, Semi Conductor Assembly Testing, Marking and Packaging/OST Facilities, any other similar projects which is being amended or proposed by the Government of India, on purchasing land or taking it on lease. Conveyan ce under clause (a) of Article 23 and lease under Article 35 of the Schedule 1(B), Indian Stamp Act, The aforesaid exemption under this notification shall be subject to the following terms and conditions:- 1- The exemption of the notification shall be available if the District Magistrate or the General Manager, district industries centre, of the concerned district shall confirm in the instrument that the said deed is being executed under the Uttar Pradesh Semi Conductor Policy 2024, and also sign as a witness for the said purpose. 2- Irrevocable Bank Guarantee of the amount equivalent to the remission of stamp duty in favour of the District Magistrate of the concerned district shall be presented before the registration officers at the time of the registration of such deed. The validity period of the bank guarantee should not be less than 5 years. 3- The provisions mentioned in this notification will remain in force for 5 years from the date of the commencement of the policy. In case the said policy comes to end, by any means, the remittance under this notification shall be considered to be revoked by itself from the date of the withdrawal of the said policy. 4- The implementation of the notified provisions shall be done according to the extant procedural guidelines of the G.O. dated 31-03-2023 issued by the Stamp and Registration Department. By order, Leena Johri Pramukh Sachiv.