MUMBAI (INDIA): Since the announcement of demonetisation last month, collections from stamp duty in Maharashtra have decreased and the fall is greater in rural and semi-urban areas, official data shows.
Since November 9, the average drop in stamp duty collection in the state was 33 per cent, a senior official told on Friday.
“The revenue generation from property deals has reported a drop as high as 45 per cent in Amravati district, highest in the state. In Latur and Aurangabad districts the drop in collection is 39 per cent and 38 per cent, respectively. Nagpur district has registered a drop of 33 per cent in stamp duty and registration fee revenue,” said Ramaswami N, Inspector General of Registration (IGR) and Controller of Stamps.
As for urban areas, stamp duty collection fell by 16 per cent in Pune, by 9 per cent in Mumbai and 7 per cent in Thane, he said.
IGR office is the second largest revenue generating department in the state after the sales tax. In the last fiscal IGR collected a revenue of over Rs 40,000 crore.
Source: Press Trust of India