To bring in more transparency, the Maharashtra government will launch e-payment gateways for stamp duty and registration charges. The government would also facilitate payment of stamp duty for leave and license deals through the internet by applying digital signatures.
These initiatives are part of the 32 key resource areas (KRA) fixed by the state to increase the pace of development and revenue collection.
"The Central government and the Reserve Bank of India have given their approval for the introduction of e-payment for the collection of stamps and registration, which is the second highest after value added tax and sales tax in the state. The idea is to make payment possible through credit and debit cards. The government had mobilised Rs 12,500 crore through stamp duty and registration in 2010-11 and it has set a target of Rs 15,000 crore for 2011-12. So far, in view of the current economic slowdown, especially in the realty sector, the state could mobilise Rs 5,000 crore during April-September, which is 32 per cent of the target," said a senior government official.
The launch of e-payment aims at creating a hassle-free environment for the recovery of stamp duty and registration charges. The official admitted that the e-payment initiative would reduce interface between the government employees and tax payer and thereby curb corrupt practices.
Maharashtra earns revenue of Rs 12,500 crore through stamp duty, while about 200,000 registration of leave and license take place annually in the state.
The state government also proposes to introduce payment of stamp duty for leave and license deals through digital signatures.
"For this, the licensor and licensee need to have digital signatures, which would bring in more security. Even though stamp duty payment is not binding under the Indian Registration Act for leave and license deals, it is mandatory in Maharashtra. Annually, abut 200,000 such deals are registered with the Department of Registration and Stamps," the official said.
The state department of registration and stamps has 412 offices with employees strength of 2,500. It includes registration of deeds or instruments and their preservation. The registration process encompasses the sub-functions such as receipt generation, valuation, recovery of evaded stamp duty, refund of excess stamp duty, adjudication and issuing notices.So far, the department in its IT initiative has computerised and automated 360 sub-registrar offices, 31district level offices , nine division level offices and the headquarters in Pune.
Project SARITA ( Stamps and Registration Information Technology-based Administration) encompasses the entire state of Maharashtra and is operational since January 2001. Till date, close to 2.2 million documents have been registered across the state and revenue handled is Rs 5,000 crore. Approximately, eight million people directly benefit from SARITA, annually, which has seen innovative application of the public private partnership in the betterment of quality of service given to millions.
