- Subject to the provisions of this Act and the exemptions contained in Schedule I, the following instruments shall be chargeable with duty of the amount indicated in that Schedule as the proper duty therefor, respectively, that is to say -(a)every instrument mentioned in that Schedule which, not having been previously executed by any person, is executed in India on or after the first day of July, 1899;(b)every bill of exchange, payable otherwise than on demand or promissory note drawn or made out of India on or after that day and accepted or paid, or presented for acceptance or payment, or endorsed, transferred, or otherwise negotiated in India, and(c)Every instrument (other than a bill of exchange or promissory note) mentioned in the Schedule, which not having been previously executed by any person, is executed out of India on or after that day, relates to any property situate, or to any matter or thing done or to be done in India and is received in India :Provided that, notwithstanding anything contained in clause (a), (b) or (c) of this section or in Schedule I, and subject to the exemptions contained in Schedule 1-A, the following instruments shall be chargeable with duty of the amount indicated in Schedule 1-A, as the proper duty therefor, respectively, that is to say-(aa)every instrument mentioned in Schedule 1-A as chargeable with duty under that schedule, which, not having been previously executed by any person, is executed in Punjab on or after the date of commencement of this Act.(bb)every instrument mentioned in Schedule 1-A as chargeable with duty under that Schedule, which, not having been previously executed by any person is executed out of Punjab on or after the date of the commencement of this Act and relates to any property situated, or to any matter or thing done or to be done in Punjab, and is received in Punjab:Provided also that no duty shall be chargeable in respect of -(1)any instrument executed by, or on behalf of or in favour of government in cases where, but for this exemption the Government; would be liable to pay the duty chargeable in respect of such instrument;(2)any instrument for the sale, transfer or other disposition either absolutely or by way of mortgage or otherwise of any ship or vessel; or any part, interest, share or property of or in any ship or vessel registered under the Merchant Shipping Act, 1894, (57 and 58 Vict. C. 60) or under Act XIX of 1838, or the Indian Registration of Ships Act, 1841, (X of 1841) as amended by subsequent Acts.
