In a remarkable decision to bring far more efficiency and check the pilferage of state revenue, the Punjab Government has abolished the physical stamp papers. The stamp paper of any denomination can now be obtained via e-stamp i.e. computerized print-out from any stamp vendor or from banks authorised by the State Government.
After launching the facility, Punjab Revenue Minister Mr. Bram Shanker Jimpa said that earlier the e-stamping facility was applicable only to value of above Rs.20,000. "We are extending this facility to stamp papers for all denominations starting from Rs 1," he said.
He said that this decision taken by the Punjab Government led by Chief Minister S Bhagwant Mann will at least save Rs 35 crores annually, which incurred on printing of stamp papers, besides facilitating the common public to obtain stamp papers in a hassle-free manner. He said that most of the time the general public had to face difficulty in getting the stamp paper when it was not available with the stamp vendor or had to purchase at higher prices.
He said that a notification no. e-office/188125-ST-2/7616 dated 27.05.2022 has been issued for the implementation of the e-stamp system.
The Cabinet Minister said that the Punjab Government will pay a commission of 2% to the stamp vendors on e-stamps ranging from Rs.1 to Rs 19,999, while the general public would get stamp paper at actual rate, for instance, they will have to pay only Rs 100 for stamp paper of Rs 100 and no extra commission will be levied. This step will also help in curbing the stamp paper-linked frauds, he added.
The department has also launched five more e-facilities including Loan/Hypothecation Agreement, Agreement of Pledge, Affidavit & Declaration, Demand Promissory Note and Indemnity Bond. Now, these documents can also be issued through the computer directly.
Secretary Revenue Department Mr. Manvesh Singh Sidhu said that this facility has been started with the help of National e-Governance Services Ltd. (NeSL), GoI. With the launch of the facility, the people will have no need to go anywhere and they can avail these facilities in banks.