KHABRE TV NEWS - Nalanda Chamber of Commerce and Industries urged to waive stamp duty on bank loan given by the bank to three lakh crore MSMEs announced by the Center

 

 

Nalanda Chamber of Commerce and Industries urged to waive stamp duty on bank loan given by the bank to three lakh crore MSMEs announced by the Center. 



(Khabare TV - 9523505786) - Bihar Sharif: - June 6, 2020, Nalanda Chamber of Commerce and Industries stamps duty on bank lending to micro, small and medium enterprises (MSME) under self-sufficient India economic package Less tax is requested to determine a token amount.
Anil Kumar Akela, president of Nalanda Chamber of Commerce and Industries, told that the central government has given Rs. It has decided to provide automatic loan facility without any guarantee. It has been provided that on 29 February 2020, the bank's loan outstanding, whether it is in term loan or working capital or any other loan account, including all, 20 percent of its loan amount. As given to MSMEs, the rate of interest on this amount will be lower than other loans taken from banks and this loan will be repaid under working capital term loan account in 4 years after the moratorium period of 1 year is.
Mr. Akela told that in the Hypothecation Agreement made by the bank at the time of granting the loan, stamp duty is levied at the rate of ₹ 290 per lakh of the amount of the loan i.e. if the amount of people is one crore, then a stamp of ₹ 29000 on it. Duty has to be paid which does not seem suitable for small entrepreneurs. 


He further stated that the maximum amount for such bank loan hypothecation was fixed at ₹ 5000 / = by the Government through Gazette Notification No. 1 / M-148 / 2011-1959 dated August 1, 2012, but again the Gazette By notification dated 21 July 2016, this amount has been provisioned for a stamp duty of Rs 85 / - on fast ₹ 30,000 / = and above that it has been increased to ₹ 29 / = (₹ 290 per lakh) for every 10,000 / =.
Mr. Akela said that in addition to this various types of documents are made by banks and stamp duty is levied on them separately like stamp of ₹ 1000 / = on agreement, stamp of ₹ 2000 / = on guarantee, 1000 on borrower PDR. / = And the guarantor PDR bears a stamp of 1000 / =.
The Chairman of the Chamber has requested the Honorable Chief Minister of Bihar Nitish Kumar, Deputy Chief Minister cum Finance Minister, Honorable Sushil Kumar Modi, Industries Minister, Principal Secretary, Finance Department, to accelerate government industrial and economic development in this epidemic period for loan hypothecation from the bank As before, a fixed amount token account should be determined so that more and more MSMEs can take advantage of this facility and contribute to the economic development of the country and the state. To create more jobs.

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