To check the pilferage of state revenue and bring more efficiency, the Punjab government has abolished the physical stamp papers. From now on, only e-stamps in the form of computerised print-out of all denominations will be available with stamp vendors and banks authorised by the state government.
After launching the facility, Punjab revenue minister Bram Shanker Jimpa said that earlier the e-stamping facility was applicable only to values of above Rs 20,000. “We are extending this facility to stamp papers to all denominations starting from Re 1 onwards,” he said
He said that this decision will help save Rs 35 crores annually, which was incurred on printing of stamp papers, besides facilitating the common public to obtain stamp papers in a hassle-free manner. “Most of the time the general public had to face difficulty in getting the stamp paper when it was not available with the stamp vendor or had to purchase at higher prices,” the minister said.
He said that the notification dated May 27 has been issued for the implementation of the e-stamp system. “The Punjab Government will pay a commission of 2% to the stamp vendors on e-stamps ranging from Re 1 to Rs 19,999, while the general public would get stamp paper at actual rate, for instance, they will have to pay only Rs 100 for stamp paper of Rs 100 and no extra commission will be levied. This step will also help in curbing the stamp paper-linked frauds,” Jimpa said.
The department has also launched five more e-facilities including Loan/Hypothecation Agreement, Agreement of Pledge, Affidavit & Declaration, Demand Promissory Note and Indemnity Bond. Now, these documents can also be issued through the computer directly.
