THE KARNATAKA STAMP (SECOND AMENDMENT) ACT, 2017
(First Published in the Karnataka Gazette Extra-ordinary on the 3rd day of July, 2017)
(Received the assent of Governor on the 29th day of June, 2017)
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-eighth 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, 2017.
(2) It shall come into force at once.
2. Amendment of Section 9.- In section 9 of the Karnataka Stamp Act, 1957, (Karnataka Act 34 of 1957) in sub-section (1), in clause (a), after the last proviso, the following shall be inserted, namely:-
"Provided also that the State Government may in public interest, by notification, with effect from 21st January, 2016, reduce or remit during the policy period, stamp duty payable on the instruments to be specified therein, executed by or in favour of the eligible industrial enterprises, in connection with the Karnataka Agribusiness and Food Processing Policy 2015, specified in the Government Order No.AGD 94 AMS 2015, dated: 11.12.2015, published in the Karnataka Gazette, dated: 21st January, 2016 or any other modifications specified by the State Government from time to time subject to production of a certificate to that effect from the Prescribed Authority."
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