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ABSTRACT Stamp Duty - Instruments of sale, lease and lease-cum-sale executed by SIDCO, SIPCOT - Transfer of Industrial plots/sheds developed with Government assistance - 5O% exemption of stamp duty with effect from 25.9.2003 - Orders - Issued. COMMERCIAL TAXES DEPARTMENT G.O.Ms.No.141 Read:
Read also: 1. From the Tamil Nadu SIDCO, Chennai letter No.18955/D5/2001, dt:31.12.2001. 2. From the Managing Director, SIPCOT, D.O.Letter No.AD3/SO/14/82, dt:9.2.2002. 3. From the Indian Chamber of Commerce and Industry, Thuthookudi letter dt:28.1.2002. 4. From the President, Ambattur Industrial Estate Manufacturers' Association letter dt:19.4.2002. 5. From the Industries Commissioner and Director of Industries and Commerce, Chennai letter No.3353/EL3/2002, dt:29.4.2002. 6. From the Inspector General of Registration letter No.7675/C5/2002, dt:3.5.2002. 7. From the Inspector General of Registration letter No.7675/C5/2002, dt:31.5.2002. 8. From the Inspector General of Registration letter No.7675/C5/2002, dt:5.6..2002. 9. From the Managing Director, SIPCOT D.O.Letter No.D3/SD/14/82, dt:12.6.2002. 10. From the Managing Director, SIPCOT Letter No.18966/D5/2001, dt:2.7.2002. 11. From the Senior Manager, SIDCO Letter No.18955/D5/2001, dt:9.9.2002. 12. From the General Manager, SIPCOT letter No.D1/GEN/14/8/2002, dt:13.9.2002. 13. From the Managing Director, SIDCO letter No.18955/D5/2001, dt:6.11.2002. 14. From the Inspector General of Registration letter No.7675/C5/2002, dt:2.6..2003. 15. From the Managing Director, SIPCOT D.O.Letter No.D1/Stamp Duty/2003, dt:6.6.2003. 16. From the Managing Director, SIPCOT D.O.Letter No.D1/Stamp Duty/2003, dt:11.6.2003. 17. From the Inspector General of Registration letter No.7675/C5/2002, dt:2.6.2003. ... ORDER: In 1974, the Government granted remission of stamp duty in respect of instruments relating to transfer of industrial plots and industrial sheds executed by industrial development agencies of the Government like SIDCO, SIPCOT, TACID and the industrial estates formed with the assistance of the Government and registered under the Companies Act, 1956 (Central Act 1 of 1956) or under Tamil Nadu Co-operative Societies Act, 1983 (Tamil Nadu Act 30 of 1983). This concession was periodically reviewed and extended upto 24.1.2000. 2. In G.O.Ms.No.41, Industries Department, dt:18.3.1996, the Government identified industrially backward and most backward blocks in the State for the purpose of extending various concessions like interest Free Sales Tax Loan/Sales Tax Deferral and Stare Capital Subsidy. Taking this classification into account and with a view to protect the revenue to the Government it was ordered in G.O.Ms.No.48, Commercial Taxes Department, dt:6.3.2000 that the concession of remission of stamp duty be restricted only to industrially backward and most backward blocks enlisted in the above Government Order. The concession was again reviewed in the year 2001 and extended for one year from 25.1.2001. For places other than backward and most backward blocks, the concession was not extended beyond 24.1.2000. 3. SIDCO, SIPCOT, Indian Chamber of Commerce and Industry, Thoothukudi and Ambattur Industrial Estate Manufacturers' Association have represented to the Government for extension of this concession for a further period of 5 years without restriction of areas like backward and most backward blocks. The Commissioner and Director of Industries and Commerce has recommended the request for extension of remission of stamp duty. 4. The Government have examined the request for extension of remission of stamp duty in the light of the New Industrial Policy 2003 and have decided that 50% remission of rate of stamp duty, prevailing on the date of presentation of document, be granted one time, for sale, lease and lease-cum-sale deed in respect of industrial plots and sheds developed and sold by SIPCO and SIDCO irrespective of location. 5. The Government have also decided that the documents of sale, lease and lease-cum-sale deed, that have already been registered on payment of stamp duty at the rate applicable to the respective areas on the date of registration on or after 25.1.2002 in respect of industrial backward and most backward areas and on or after 25.1.2000 in respect of areas other than industrial backward and most backward areas are not eligible for above concession. There shall, therefore be no refund of stamp duty already paid in respect of these registered documents. 6. Accordingly, the notification appended to this order will be published in the Tamil Nadu Government Gazette Extraordinary dt:30.9.2003. 7. The Works Manager, Government Central Press, Chennai is requested to send to Government twenty copies of the Tamil Nadu Government Gazette Extraordinary dt:30.9.2003 in which the notification appended hereto is published. (By Order of the Governor) P.R. BINDHUMADHAVAN To The Inspector General of Registration, Chennai-28. The Works Manager, Government Central Press, Chennai-79. The Managing Director, SIPCOT Limited, 19-A, Rukmani Lakhsmipathi Road, Egmore, Post Box No.7223, Chennai-8. (w.e.). The Managing Director, SIDCO Limited, Paulwel's Road, Kathipara Junction, Chennai-16. (w.e.) The Director of Industries and Commerce, Chennai-5. (w.e.) The Accountant General (A&E), Tamil Nadu, Chennai-18. (w.e.) The Accountant General (A&E), Chennai-18. (by name) The Accountant General (Audit), Chennai-35. The Accountant General, Chennai-6.
Copy to: The Industries Department, Chennai-9. The Small Industries Department, Chennai-9. The Finance Department, Chennai-9. The Special Personal Assistant to Minister for Finance, Chennai-9. The Special Personal Assistant to Minister for Industries, Chennai-9. The Special Personal Assistant to Minister for Rural Industries, Chennai-9. The Chief Minister's Office, Chennai-9. The Public (SC) Department, Chennai-9. The Commercial Taxes (OP) Department, Chennai-9. The Law Department, Chennai-9. Stock File/Spare copy.
// Forwarded / By Order // SECTION OFFICER APPENDIX NOTIFICATION In exercise of the powers conferred by clause (a) of sub-section (1) of section 9 of the Indian Stamp Act, 1899 (Central Act 11 of 1899), the Governor of Tamil Nadu hereby remits 50% of duty chargeable under the said Act in respect of the instruments executed by SIPCOT and SIDCO in respect of developed industrial plots, sheds for sale or lease or lease-cum-sale deed, irrespective of location. The notification hereby made shall be deemed to have come into force on the 25th September, 2003. P.R. BINDHUMADHAVAN // True Copy // SECTION OFFICER
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