INTRODUCTION
With a view to boost collection of revenue in an era of highly
significant property transactions, Government of Maharashtra
introduced Maharashtra Stamp Duty Amnesty Scheme - 2023 on 7
December 2023 which, read with the explanatory note and guidelines
dated 11 December 2023, the corrigendum dated 13 December 2023 and
an order dated 2 February 2024 issued by Revenue and Forest
Department, Government of Maharashtra (the Amnesty Scheme),
provides for a reduction or remission not only of the penalty but
also of the stamp duty chargeable under the Maharashtra Stamp Act,
1958 in relation to certain instruments.
Penal provision under Maharashtra Stamp Act, 1958
For insufficiently stamped instruments, the Maharashtra Stamp
Act, 1958 (Stamp Act) provides for penalty to be levied at the rate
of 2% of the deficient stamp duty for every month from the date of
execution of such instrument subject to a maximum of 400% i.e. 4
times the deficient stamp duty. As
