The Registration Act and the Stamp Act are not in pari material. But this Directorate
is to administer the Indian Stamp Act, 1899 in course of the registration of the
documents under the provisions of the Registration Act. The Indian Stamp Act,1899
as amended by the Union Legislature is in force in the whole of India except the
State of Jammu & Kashmir. The revenue derived from stamp duties forms a considerable
part of the revenues of the states. Under the constitution, the entire proceeds
of the duties are assigned to the States in which they are levied though for the
sake of ensuring uniform rates of duty on the instruments of commercial nature,
the power to prescribe the rates of duties on them is vested in the Union Legislature
and the power to prescribe the rates of duties on other instruments is vested in
the State Legislature. In West Bengal various Sections have been amended and new
Sections as applicable to the State have been added. Amongst such amendments, the
amendment of Section 47A for the purpose of determination of market value of properties
which are the subject matter of the Instruments of gifts, partition, conveyances,
exchange, settlement, transfer of lease by way of assignment, agreement relating
to sale of an immovable property and in certain cases the power of attorney, is
worthy to be mentioned.
There are several provisions in the Indian Stamp Act, 1899 as to :-
Stamp duties, adjudications as to stamps, Instruments not duly stamped. Allowances
for stamps in certain cases, criminal offences and procedures.
Schedule 1A, as amended in West Bengal , prescribes stamp duty on certain instruments
and there are, as many as, 65 articles for rates of proper stamp duties on such
type of instruments.