Stamp duty incentive refund process amended

Context: Recently, The Punjab Government has amended the procedure of submission of online application for refund of incentive of stamp duty under IBDP 2017.

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  • It aims to ensure greater ease to investors.
  • Pending cases would be cleared expeditiously giving relief to Investors.
  • The refund of stamp duty could be claimed after the start of commercial production.
  • One of the conditions for claiming incentive was land should not have been purchased before or after three years of the application.
  • Under the amended procedure, the date for submission of Incentive Common Application Form would be considered to check the aforesaid condition of three years.

Source: Tribune

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