THE KARNATAKA STAMP (SECOND AMENDMENT) ACT, 2014 (First Published in the Karnataka Gazette Extra-ordinary on the Eighth day of January, 2015) (Received the assent of the Governor on the seventh day of January, 2015) An Act further to amend the Karnataka Stamp Act, 1957. Whereas it is expedient further to amend the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957) for the purposes hereinafter appearing; Be it enacted by the Karnataka State Legislature in the sixty-fifth year of the Republic of India as follows:- 1. Short title and commencement.– (1) This Act may be called the Karnataka Stamp (Second Amendment) Act, 2014. (2) It shall be deemed to have come into force with effect from the first day of October, 2014. 2. Amendment of Section 9.- In the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957) in section 9, in sub-section (1), in clause (a), after the eighth proviso, the following shall be inserted, namely:- "Provided also that the State Government may, in public interest, by notification, reduce or remit, till 30th September 2019 the stamp duty payable on any instrument to be specified therein executed by specified new and existing micro, small, medium enterprise (MSME), Large, Mega, Ultra Mega, Super Mega enterprises including expansion, modernization and diversification projects as defined in the Karnataka Industrial Policy 2014-2019 specified in the Government order CI 58 SPI 2013 dated: 01.10.2014 or by any such key projects of core area as defined in the said policy or specified by the State Government from time to time". |
