Mumbai, July 7 (IANS) The old cumbersome rules regarding stamp duty on bank guarantees used in commercial transactions, government contracts, and infrastructure projects in the state have been changed. Stamp duty on bank guarantees will now be charged under a separate, independent category. This was done through an amendment to the Maharashtra Stamp Act (1958). The bill, which was presented in the state assembly by Revenue Minister Chandrashekhar Bawankule on Tuesday, was unanimously passed.Prev…
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