Section 148 in Reductions and Remissions (Andhra Pradesh)
148.
I. Reduces the Stamp Duty on the Sale Deeds of land and buildings by limiting the stamp duty to the amount arrived at on the auction amount declared in the sale deeds of land and buildings in cases where the sales of industrial units were made through auction by the Official Liquidator appointed by the High Court/Recovery Officer appointed by the Debts Recovery Tribunal and the units disposed off by Implementation Secretariat of the Public Enterprises Department. [vide G.O.Ms.No.2046, Rev. (Regn. I) Dept., Dated 28.11.2005].The above notification shall come into force with effect from 1-12-2005.II. Reduces the Stamp Duty payable in respect of sale deeds of Plant and Machinery (movable or immovable i.e., whether fastened to earth or severed) to 2% on the auction amount fetched due to sale of industrial units by the Official Liquidator appointed by the High Court/Recovery Officer appointed by the Debts Recovery Tribunal and the units disposed off by Implementation Secretariat of the Public Enterprises Department. [vide G.O.Ms.No.2046, Rev. (Regn.) Dept., Dated 28.11.2005].The above notification shall come into force with effect from 1-12-2005.III. Reduces the Stamp Duty payable on all Sale Deeds of Plant and Machinery (movable or immovable i.e., whether fastened to earth or severed) in respect of normal sale/conveyance transactions, to 2% on the Book Value shown in the financial accounts as on the closing date of the immediately preceding financial year. [vide G.O.Ms.No.2046, Rev. (Regn.) Dept., Dated 28.11.2005].The above notification shall come into force with effect from 1-12-2005.
