After more than ten years of its introduction and almost 17 States across the country having adopted it, the Odisha Government on Tuesday signed an agreement with the Stock Holding Corporation of India ltd (SHCIl) to introduce e-stamping as another mode of collecting stamp duty.
State Inspector General of Registration (IGR) Upendranath Mallick inked the agreement with the SHCIl, represented by its Regional Manager Kaushik Bhattacharya here authorising the SHCIl as the central record keeping agency (CRA) for implementation of e-stamping in Odisha.
E-stamping is an electronically generated stamp paper which could be used by the registrant public as a safe and secured method of paying stamp duty for any purpose without physical purchase of stamp paper. The e-stamping facility will not only benefit the public for a hassle-free payment of stamp duty, the State Government would also benefit out of it as it would save the cost of printing, storage and transportation of stamp papers.
Sources pointed out that even with the introduction of e-stamping, the practice of using physical stamp paper and franking of stamp duty would continue. “The e-stamps will be issued for payment of stamp duties for amount exceeding `1,000 and it is an optional mode of payment of government revenue in shape of stamp duty,” said a release issued by the Board of Revenue here.