state government

Under the Constitution of India, the power to levy stamp duty is divided between the Union and the State. The Parliament (Central Government) has the power to levy stamp duty on the instruments specified in Article 246 read with Schedule VII, List I, Entry 91 and the State Government has the power to levy stamp duty on instruments falling under Article 246 read with Schedule VII, List II, Entry 63. Full Article

An attempt by the state government to regulate non-banking financial companies (NBFCs) operating in the state failed when justice Jayant Patel of the Gujarat high court ruled that NBFCs can’t be put under the purview of the Money laundering act (ML Act). The judgment is significant in the present scenario as scores of NBFCs in the state and thousands of people are getting advances through such companies regularly. The NBFCs were irked when the registrars of the co-oper.. Full Article

The government will mop up Rs 1,400 crore (Rs 14 billion) this fiscal by taxing the second installment of arrears due to central government employees, who were awarded increased salaries by the Sixth Pay Commission. The first installment of arrears (representing 40 per cent of the increased pay) was disbursed during financial year 2008-09. Full Article

In the Payment of Gratuity Act, 1972 (39 of 1972) (hereinafter referred to as ‘the principal Act’), in section 2, for clause (e), the following clause shall be substituted, namely:—‘(e) “employee” means any person (other than an apprentice) who is employed for wages, whether the terms of such employment are express or implied, in any kind of work, manual or otherwise, in or in connection with the work of a factory, mine, oilfield, plantation, port, railway c.. Full Article

The state of Punjab has challenged in the Supreme Court the validity of Union government notification giving concessions in taxes and also providing subsidy to the new as well as existing industries in the states of Jammu and Kashmir, Himachal Pradesh and Uttarakhand. Contending that such concessions provided on selective basis would adversely affect the industrial development of Punjab, the state government prayed for quashing of these notifications as null and void. Full Article

An amendment in the Development Control Regulation 33 (9) pertaining to cluster redevelopment has given tenants of old, cessed buildings in the island city the right to select their own builder. However, the ultimate power to sanction such schemes still rests with the landlords as without their consent no redevelopment can take place. Full Article

For the first time the state government has candidly admitted that there is corruption at commercial tax department VAT checkposts. Industries minister Saurabh Dalal in an interaction with Gujarat Sales Tax Bar Association (GSTBA) has appealed to traders to come forward to lodge complaints against errant officers. Full Article

As per section 17 of the Indian Registration Act, 1908 any documents related to immovable property exceeding worth Rs.100/- needs to be compulsorily registered. This being a central Act and is being implemented by the state government as per the special power given to the state government. Further, the state government is also empowered to levy the registration fees by issuing necessary notifications. The registration fee is charged as a service charge and not as a part .. Full Article