Stamp duty lowered by government. Claim Refund or a Discount

Stamp duty cut to 6% for first-sale flats too

This June might see a rush for the registration of new flats in the state, predominantly in Bangalore. The government will come out with a notification to reduce the stamp duty from 7.5% to 6% for first-sale transaction of flats.  If those who have already registered the new flats are lucky, the government may give a refund in the difference amount.
The government which announced the reduction in stamp duty to 6% from this fiscal did not apply the same to the first sale of flats and such transactions continue to pay the earlier 7.5%.
The state government termed this “oversight’’ while amending the Act and announced that steps would be taken to bring in a fresh notification. Since the Lok Sabha election code of conduct was in force, the government promised to bring in the necessary changes after the election process was completed.

Source: TIMES NEWS NETWORK

What is Stamp duty?

Stamp duty India is a tax, much like the sales tax and income tax that are collected by the Government. All such taxes must be paid in full and on time. If you make delay in the payment then you have to face the penalty. Penalty involves fine or even imprisonment. If you want to produce any instrument or document in the court, it needs to be done on the stamp paper only then it is considered valid and can be used as an evident. The court cannot admit instruments or documents that are not properly stamped as evidence.