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Tuesday, July 5, 2022

Punjab abolishes physical stamp papers, launches ‘e-stamp’ facility- Mrit News

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The Punjab government on Wednesday decided to abolish the physical stamp papers in an attempt to bring efficiency and check the pilferage of State revenue.

Punjab Revenue Minister Bram Shanker Jimpa launched the ‘e-stamp facility’ here. Following this, stamp paper of any denomination can now be obtained via ‘e-stamp’, which includes computerised print-out from any stamp vendor or from banks authorised by the State government.

Mr. Jimpa said that earlier the e-stamping facility was applicable only to a value of above ₹20,000, but the government is extending this facility to stamp papers for all denominations starting from ₹1.

He said the decision taken will save at least ₹35 crores annually, which was incurred on printing of stamp papers, besides facilitating the common public to obtain stamp papers in a hassle-free manner. “Most of the time, the general public had to face difficulty in getting the stamp paper when it was not available with the stamp vendor or had to purchase at higher prices,” he said, adding that a notification has been issued for the implementation of the e-stamp system.

He said that the Punjab government will pay a commission of 2% to the stamp vendors on e-stamps ranging from ₹1 to ₹19,999, while the general public would get stamp paper at the actual rate. For instance, they will have to pay only ₹100 for a stamp paper of ₹100 and no extra commission will be levied. This step will also help in curbing the stamp paper-linked frauds, he added.

“The department has also launched five more e-facilities including Loan-Hypothecation Agreement, Agreement of Pledge, Affidavit-Declaration, Demand Promissory Note and Indemnity Bond. Now, these documents can also be issued through the computer directly,” he said.

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