AI-assisted research summary: The Act increases stamp duty by 10% for the listed instruments, with rounding rules for fractions of naya paisa, and lets the State Government set commencement and control adhesive-stamp use by notification.
[1961 : Guj. VI] GOVERNMENT OF GUJARAT LEGISLATIVE AND PARLIAMENTARY AFFAIRS DEPARTMENT THE GUJARAT ACT NO. VI OF 1961 The Gujarat Increase of Stamp Duties Act, 1961 (As modified upto the 31st October, 2006) [1961 : Guj. VI] THE GUJARAT INCREASE OF STAMP DUTIES ACT, 1961 .................................... CONTENTS PREAMBLE PAGE NO. SECTIONS. 1. Short title and commencement. 2. Increase in stamp duties. 3. Insertion of new section 11-A in Bom. LX of 1958. 4. Provisions of principal Act so far as not inconsistent to apply for purposes of this Act. [1961 : Guj. VI] GUJARAT ACT NO. VI OF 1961.1 [THE GUJARAT INCREASE OF STAMP DUTIES ACT, 1961.] [31st March, 1961] An Act to provide for increase in certain stamp duties leviable under the Bombay Stamp Act, 1958. It is hereby enacted in the Twelfth Year of the Republic of India as follows :– Short title and 1. (1) This Act may be called the Gujarat Increase of Stamp Duties Act, 1961. commencement. (2) It shall come into force on such date as the State Government may by notification in the Official Gazette appoint. 2. Notwithstanding anything contained in the Bombay Stamp Act, 1958 hereinafter Increase in stamp Bom. LX of 1958. duties. referred to as “the principal Act”), the amount of the stamp duty chargeable under the principal Act in respect of the instruments mentioned in Schedule I thereof and specified in the Schedule to this Act shall be increased by ten per cent : Provided that when the amount of the increased duty so chargeable on any instrument cannot be expressed in a whole number of naya paisa it shall be rounded off to the next higher naya paisa if the fraction be half or more, and if the fraction be less than half it shall be disregarded. Insertion of new 3. After section 11 of the principal Act, the following section shall be in started, section 11A in namely :– Bom. LX of 1958. “11 A. Notwithstanding anything contained in the other provisions of this Act, Use of andhesive in the case of instruments specified in the Schedule to the Gujarat stamps in certain Guj. VI of 1961 instruments. Increase of Stamp Duties Act, 1961, adhesive stamps may be used to such extent as the State Government may by notification in the Official Gazette direct.” Provisions of 4. The provisions of the principal Act shall, except in so far as they are inconsistent principal Act so far with anything herein contained, apply for the purposes of this Act. as not inconsistent to apply for purposes of this Act. [1961 : Guj. VI] SCHEDULE. (Vide section 2) Instruments mentioned in Schedule I to the principal Act and chargeable with increased duty under the entries therein. (1) Every Agreement and Memorandum of an agreement chargeable under entry 5. (2) Every Bond chargeable under entry 13 and every other instrument chargeable with the same duty as a Bond. (3) Every Clearance, List chargeable under any of the entries 19, 20 21, 22 or 23. (4) Every Conveyance chargeable under entry 25 and every other instrument chargeable with the same duty as a Conveyance. (5) Every Note or Memorandum chargeable under entry 43. ---------------- 1. For Statement of Objects and Reasons, See Gujarat Government Gazette, 1961, Part V, Page 208.