March 6, 2015
West Bengal Govt proposes to reduce Stamp Duty on properties
The West Bengal Government has proposed to reduce Stamp Duty on properties. At present 1% additional Stamp Duty is charged on properties whose market value exceeds Rs. 30 lakhs. It has been proposed to raise the threshold from Rs. 30 lakhs to Rs. 40 lakhs with immediate effect. As a result, the property owners will have to pay reduced Stamp Duty of 6% instead of 7% on properties with market value up to Rs. 40 lakhs.
Dr Amit Mitra spoke at the Assembly after laying the West Bengal Finance Bill 2015 for next year.
The Finance Minister further said that Budget had allocated total outlay to the social sector like health and education. Replying to a member’s question on whether the Government was tweaking the sales tax on gold, Dr Mitra replied in negative. The Government, he said, plans to make the State a future destination for gold and jewellery industry for which it had created 2.5 lakh square feet of vertical space at Domjur in Howrah.
The West Bengal Appropriation Bill 2015 was also passed on the last day of the Budget Session 2015-16.