14. Supply of deficient duty on transfer of shares.
- When any instrument of transfer of shares in a company or association is written on a sheet of paper on which a stamp of the proper value is engraved or embossed and the value of the stamp so engraved or embossed is subsequently, in consequence of a rise in the value of such shares, found to fall short of the amount of duty chargeable under Article 62(a) of Schedule IA, one or more adhesive stamps bearing the words "Share Transfer" may be used to make up the amount required.[14A. Other mode of payment of stamp-duties chargeable under the Act. - (1) Notwithstanding anything contained elsewhere in these rules, where an instrument is chargeable with stamp-duty of an amount exceeding rupees five thousand, such stamp-duty shall be paid through T.R. Form No. 7 into the [Inserted by the Kolkata Gazette Extraordinary, vide Notification No 1617-F.T., dated 22.8.2005, w.e.f. 1.9 2005.] [agency bank linked with the treasury, or by electronic payment mode, i.e. through on-line, in accordance with the procedures mentioned in rule 14B] [Substituted by Notification No. 1821-F.T, dated 19.11.2012, Clause (1)(a), w.e.f. 19.11.2012, for the words 'agency bank linked with the treasury].[Provided that the electronic payment of stamp-duty exceeding Rs. 5,00,000/- (rupees five lac), shall be made compulsorily by electronic payment mode, i.e. through on-line.] [Proviso added by ibid, Clause (1)(b), w.e.f. 19.11.2012.](2)The T.R. Form No. 7 referred to in sub-rule (1) may be obtained from the Registering Officer having the jurisdiction of the area where the instrument is required to be submitted for registration.(3)The Registering Officer shall authenticate the T.R. Form No. 7 in quadruplicate and mention in each copy of such Form the amount of stamp-duty required to be paid.(4)The person requiring registration of an instrument shall deposit the amount of stamp-duty as calculated by the Registering Officer in cash or by demand draft along with the authenticated T.R. Form No. 7 in quadruplicate to the agency bank linked with the treasury which will return to the depositor, as proof of payment, two copies of such Form after entering therein number of the Serialised Authenticated Bank Receipt (SABR) together with a Serialised Authenticated Bank Receipt.(5)One copy of the T.R. Form No. 7 received by the depositor shall be enclosed as an annexure with the instrument to be registered.(6)An instrument shall be considered for registration only after verification of the payment of stamp-duty.(7)The Treasury Officer shall send a copy of the bank scroll containing the deposit of stamp-duty to the office of the concerned Registering Officer once in a week.(8)The provisions of this rule shall apply mutatis mutandis in respect of procedure of payment of stamp-duties under the West Bengal Stamp (Prevention of Undervaluation of Instruments) Rules, 2001.(9)[ The provisions contained in rule 27 of these rules shall apply in case of making allowances for and/or refund of the stamp duty paid by means of Serialised Authenticated Bank Receipt (SABR) in accordance with the provisions of foregoing sub-rules of this rule.] [Inserted by Notification No. 1512-FT., dated 6.10.2009, w.e.f. 6.10.2009.]Explanation.-For the purpose of this rule, the expression "stamp-duty" includes registration fees payable under the registration Act, 1908, and the rules made thereunder'.][14B. Mode of payment of Stamp-duty by electronic payment mode. - Where the payment of stamp duty in respect of an instrument chargeable to stamp-duty is made by electronic payment mode, i.e. through on-line, the procedures mentioned in the Government Receipts Portal System (GRIPS) as up loaded in the web site, www.wbregistration.gov.in, shall be followed.(2)The Registering officer of the Office provided with internet connectivity shall accept the presentation of the document of which the payment of stamp-duty has been made in electronic payment mode, i.e. through on-line.(3)The Registering officer shall, after verification and cross-checking with the concerned bank through on-line mode, proceed with the admission of the document to registration in accordance with the other procedures laid down in these rules or any other rules relating to registration of documents in force.Explanation.-For the purpose of this rule, the expression "stamp-duty" includes registration fees payable under the Registration Act, 1908 and the rule made thereunder.] [Inserted by Notification No. 1821-FT., dated 19.11.2012, Clause (2), w.e.f. 19.11.2012.]
