Tamil Nadu Government Gazette, No. 25, Part II, Section 2 (25 II 2 v5)
The Government of Tamil Nadu, through the Commercial Taxes and Registration Department, issued G.O. (Ms.) No. 80, Commercial Taxes and Registration (J1), dated 31st May 2021, remitting stamp duty on specified loan security agreements executed by Micro, Small and Medium Enterprises under the Aatma Nirbhar Bharat Package or Emergency Credit Line Guarantee Scheme. The remission operated from 1st April 2021 to 31st December 2021 and superseded Commercial Taxes and Registration Department Notification No.II(2)/CTR/795/2020 dated 9th December 2020. The Gazette also contains Home Department G.O. (D) No. 587 dated 3rd June 2021 and Labour and Employment Department G.O. (D) Nos. 203, 212, 213 and 214 dated 24th May 2021 or 2nd June 2021, covering a tribunal appointment, an employee insurance exemption and labour court postings.
Stamp duty remission
The Commercial Taxes and Registration Department issued G.O. (Ms.) No. 80, Commercial Taxes and Registration (J1), dated 31st May 2021, under the Indian Stamp Act, 1899. It superseded Commercial Taxes and Registration Department Notification No.II(2)/CTR/795/2020 dated 9th December 2020.
Key provisions are:
- Stamp duty under Article 6 in Schedule I was remitted for an Agreement relating to Deposit of Title Deeds, pawn or pledge used as security for repayment of a loan.
- The agreement had to be executed in favour of a bank or financial institution.
- The secured loan had to be obtained by a Micro, Small and Medium Enterprise under the Aatma Nirbhar Bharat Package or Emergency Credit Line Guarantee Scheme.
- The meaning of Micro, Small and Medium Enterprises followed the Government of India notification dated 26th June 2020, as amended from time to time.
- The remission was deemed effective from 1st April 2021 and remained in force up to and including 31st December 2021.
The remission is limited to the specified loan security instruments. The notification does not extend it generally to property sale documents or every deposit of title deeds.
Other government notifications
The Home Department issued G.O. (D) No. 587, Home (Transport-IV), dated 3rd June 2021. It appointed District Judge Selvi R. Poornima, on transfer, as Chairman of the State Transport Appellate Tribunal, Chennai, replacing Thiru S. Shunmugavel, who was ordered to be transferred.
The Labour and Employment Department issued G.O. (D) No. 203, Labour and Employment (L1), dated 24th May 2021. It exempted permanent and temporary employees of Christian Medical College Vellore Association, Vellore, from the Employees' State Insurance Act for one year, from 1st January 2021 to 31st December 2021. Conditions included maintaining an employee register, preserving benefits earned from earlier contributions, and providing no refund of contributions already paid for the exempt period.
The Labour and Employment Department also issued G.O. (D) Nos. 212, 213 and 214, Labour and Employment (D2), dated 2nd June 2021, under the Industrial Disputes Act, 1947. These notifications concern transfers, postings and promotion of officials serving as presiding officers in labour courts.
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Common questions
Does this Gazette waive stamp duty on my property purchase?
No general waiver for property purchases is stated. The remission applies only to specified loan security agreements executed by Micro, Small and Medium Enterprises in favour of a bank or financial institution under the named schemes.
Does the remission cover an agreement involving deposit of title deeds?
Yes, if the agreement secures repayment of a qualifying Micro, Small and Medium Enterprise loan under the Aatma Nirbhar Bharat Package or Emergency Credit Line Guarantee Scheme and is executed in favour of a bank or financial institution.
When was the stamp duty remission effective?
It was deemed to have come into force on 1st April 2021 and remained in force up to and including 31st December 2021.
Did G.O. (Ms.) No. 80 replace an earlier notification?
Yes. G.O. (Ms.) No. 80, Commercial Taxes and Registration (J1), dated 31st May 2021, superseded Commercial Taxes and Registration Department Notification No.II(2)/CTR/795/2020 dated 9th December 2020.
