The revenue from registration of documents by the Maharashtra government rose by Rs. 367 crore due to a three percent waiver in stamp duty between September and December 2020, a state minister said on Friday. Revenue Minister Balasaheb Thorat, speaking to PTI, said the stamp duty waiver scheme, implemented in September for four months until 31 December, was aimed at reviving the building and real estate sectors that were in trouble due to the lockdown caused by coronavirus and the subsequent economic downturn. "The inheritance tax was six per cent in urban areas but five per cent in rural areas, which were both destroyed by three per cent," he said. "In 4 months, the registration of documents rose by 4.11 lakh, or 48.73 per cent, bringing the provincial taxpayer higher revenue of ₹ 367.73 crore, a rise of 3.97 per cent," he added. The set of documents reported during these four months was 12,56,224, an increase of 4,11,588 documents, Thorat said, up from 8,44,636 in the September-December period in 2019. "The profits raised rose from ₹ 9,254.9 crore in this span last year to ₹ 9,622.63 crore in September- December this year," the ministry said. In this period last year, the revenue produced rose from Rs. 9,254.9 crore to Rs. 9,622.63 crore in September-December this year,"The revenue generated rose from ₹ 9,254.9 crore in this period last year to ₹ 9,622.63 crore in September- December this year," "There was a spike in the amount of registry of documentation by 4,11,588 and increase in profits by ₹ 367.73 crore. The growth in set of documents was 48.73 per cent, and the profit rise was 3.97 per cent," he said.
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