Monday, July 4, 2022

Online application process for refund of incentive of stamp duty amended

To ensure greater ease to investors, Punjab Government has amended the procedure of submission of online application for refund of incentive of stamp duty under IBDP 2017.

Industries minister Sunder Sham Arora said that after receiving Chief Minister Captain Amarinder Singh’s approval to this effect, a notification has been issued. Pending cases shall be cleared expeditiously now giving relief to investors, he added.

Arora further informed that the refund of stamp duty can be claimed after the start of commercial production. One of the condition for claiming incentive was that land should not have been purchased before or after 3 years of the application.

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Under the Amended procedure, the date of submission of Incentive Common Application Form (ICAF) will be considered to check the aforesaid condition of three years, the Minister added.

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