Section 27

Chapter II: STAMP-DUTIES A, Of the Liability of Instruments to Duly 3. Instruments chargeable with duty.—Subject to the provisions of this Act and the exemptions contained in Schedule |, the following instruments shall be chargeable with duty of the amount indicated in that Schedule as the proper duty therefor, respectively, that is to say:— (a) 'every instrument mentioned in that: previously executed by any person, IS execute first day of July, 1899; (b) every bill of exchange pay note drawn or made out 0 paid, or presented for acceptan or otherwise negotiated, in India; and (c) every instrument (other than a bill of exchange or promissory note) mentioned in that Schedule, which not having been previously executed by any person, is executed oul of India on or after that day, relates to any property situate, or to matter or thing done or to be done, in India and is received in India; "Provided that, except as otherwise expressly provided, in this Act, and notwithstanding anything contained in clauses (a), (b) or (c) of this section or in Schedule |, the amount indicated in Schedule IA shall, subject to the exemptions contained in that Schedule, be the duty chargeable on the following instruments, mentioned in clauses (aa) and (bb) of this proviso, as the proper duty therefore respectively:— (aa) every instruments, mentioned in Schedule IA as chargeable with duty under that Schedule, which, not having been previously executed by any person, is executed in Bihar on or after the first day of January, 1938; and (bb) every instrument, mentioned in Schedule IA as chargeable with duly under that Schedule, which, not having been previously executed by any person, is executed out of Bihar on or after the first day of January, 1938 and relates to any property situated, or to any master or thing done or to be done, in Bihar and is received in Bihar:] Provided '[also] that no duty-shall be chargeable in respect of— (1) any instrument executed by, or on behalf of or in favour of, the Government in cases where, but for this exemption, the Government would be liable to pay the duty chargeable in respect of such instrument; (2) any instrument for the sale, transfer or other disposition, either absolutely or by way of mortgage or otherwise, of any ship or vessel, or any part interest, share or properly of or in any ship or vessel registered under the Merchant Shipping Act, 1897 (5) and 58Vicl, c (60) or under Act 19 of 1838 or the Indian Registration of Ships Act, 1841 (10 of 1841), as amended by subsequent Acts. 2{ "Provided further also that any entry in Schedule IA for the State of Bihar ————— at Schedule which, not having been din India on or after the able otherwise, than on demand or promissory f India on or after that day and accepted or ce or payment, or endorsed, transferred 7. Ins. by Bihar Act 6 of 1937. 2. Ins. by Bihar Finance Act 11 of 2002. | Section 27: Facts affecting duty to be set forth in instrument 27. Facts affecting duty to be set forth in instrument.—The consideration Tif any, the market value of the property] and all other facts and circumstances affecting the chargeability of any instrument with duty, or the amount of the duty with which it is chargeable, shall be fully and trully set forth therein. Comments & Case-law [Section 27, 40, 47-A and 64—penalty imposed by the Collector for under— valuing the property under registration—assailed on the ground that already a penal provision u/s 64 is provided under the Act—Section 64 of the Act relates to criminal intention of a person who is producing document to the authority for its registration— even if the provisions of section 64 of the Act are made applicable, a person who undervalues a documents, cannot escape the provision of section 40(1)(b) and section 47-A of the Act—if a person wants to defraud the State Government by not giving proper valuation of the property then he may not be allowed to say that he is liable to pay a fine of Rs. 5000/- only and should be made scot free—sections 64. and 47- A of the Aci are not mutually destructive but are supplemental to each other. (M/s Nasco Stee! Pvt. Ltd. vs. State of Bihar) 2004 (4) PLUR 470.] Chapter VIII: SUPPLEMENTAL PROVISIONS 73. Books, etc. to be open to inspection.— Every public officer having in his custody any registers, books, records, papers, documents or proceedings, the inspection whereof may tend to secure any duty, or to prove or lead to the discovery of any fraud or omission in relation to any duty, shall at all reasonable times permit any person authorised 'in writing by the Collector to inspect for such purpose the registers, books, papers, documents and proceedings, and to take such notes and extracts as they may deem necessary, without fee or charge. 74. Power to make rules relating to sale of stamps.—The State Government may make rules for regulating— (a) the supply and sale of stamps and stamped papers, (b) the persons by whom alone such sale is to be conducted, and (c) the duties and remuneration of such persons: Provided that such rules shall not restrict the sale of ten naye paise or five naye paise adhesive stamps. {S.O. 1367 dated the 11th October, 1982— In exercise of the powers conferred by clause (a) of sub-section (1) of Section 9 and Section 74 of the Indian Stamp Act, 1899 (Act no. 2 of 1899). the Governor of Bihar is ploased to make rules that the duties of Stamp vendors and duties of Katibs (Deed writers) must not be performed by the same individual, 2. In view of the cleanliness of the Administration and for checking forgery and defaications it is highly desirable that the duties of a stamp vendor and that of deed writer should not be performed by the same person or individual, 3. This notification will come in force at once. [There is another notification also | Section 27: Exemption: 27. Exemption: (a) Copy of any paper which a public officer is expressly required by law to make or furnish for record in any public office or for any public purpose. Counterpart or duplicate of any instrument chargeable with duty and in respect of which the proper duty has been paid. (a) °[ xxx ] (db) *[ xxx ] Exemption: Counterpart of any lease granted to a cultivator when such lease is exempted from duty. Customs bond: (a) When the amount does not exceed Rs. 5,000/- (b) When the amount exceeds Rs.5,000/-but does not exceed Rs. 10,000/- (c) Whenthe amount exceeds Rs. 10,000/- Debenture: (whether a mortgage debenture or not) being a marketable security transferablé (a) By endorsement or by a separate instrument of transfer (b) By delivery (Rs. 100/-(One hundred) (a) Rs. 100/-(One hundred) (b) Rs. 200/-(Two hundred) (c) Rs. 300/-(Three hundred) (a) The same duty as Bond (No. 15) for the same amount. (b) The same duty as conveyance (No. 23) for consideration equal to the face amount of the debenture. 1. Ins, by S.O, 1/M-169/2012-1026 dated 15.2.2013, 2. Deleted by ibid Schedule 1A ] Indian Stamp Act, 1899 [131 29.