INDIAN STAMP (GOA AMENDMENT) ACT, 2012

Act No. 24 of 2012

14 November, 2012

AN ACT further to amend the Indian Stamp Act, 1899 (2 of 1899), as in force in the State of Goa. Be it enacted by the Legislative Assembly of Goa in the Sixty-third Year of the Republic of India, as follows:--

S.1 Short title and commencement

• (1) This Act may be called the Indian Stamp (Goa Amendment) Act, 2012.
• (2) It shall come into force from the date of its publication in the Official Gazette.

S.2 Insertion of new section 3A

After section 3 of the Indian Stamp Act, 1899 (2 of 1899), as in force in the State of Goa, the following section shall be inserted, namely: --

"3A". Instrument of grant or renewal of a mining lease chargeable with duty.--

• (1) Notwithstanding anything contained in any other provisions of this Act and rules made thereunder, on every instrument of grant or renewal of a mining lease, the stamp duty chargeable shall be equivalent to the fifteen percent of the amount of royalty that would accrue out of the annual extraction of minerals permitted under the Environmental Clearance issued for such mining lease under the relevant law in force, multiplied by the period of the lease.
• Explanation: -- For the purposes of sub-section (1), the average royalty of the highest grade of minerals from the year of commencement of the Indian Stamp (Goa Amendment) Act, 2012 shall be taken into consideration:
• Provided that the duty payable under sub-section (1) shall