Stamping In India Series: #2 Maharashtra Stamp Paper

Maharashtra stamp paper

Stamp Duty – Maharashtra Stamp Paper 

Stamp duty payment for the purchase of Maharashtra stamp papers is a necessity for the documentation process of any business conducting operations within the state of Maharashtra.

Businesses create numerous agreements, applications, and legal documents and each one must be stamped to be considered legally valid.

Manual stamp duty payment and franking, the two most prevalent methods of stamp duty payment, involve numerous challenges for businesses. Online eStamping has emerged as a convenient alternative for businesses to purchase online stamp paper in Maharashtra. 

However, since traditional E-Stamping is unavailable in Maharashtra, businesses will need to employ other online E-Stamp options such as electronic Secure Bank & Treasury Receipt or eSBTR.

eSBTR is a popular method to purchase e Stamp paper in Maharashtra, via convenient online payment of stamp duty.

Which Documents Should Be Stamped In Maharashtra? 

The Maharashtra Stamp Act,1958 lays out the documents that need to be stamped in Maharashtra. 

Maharashtra stamp paper must be procured and stamp duty paid to legalize the following documents.

 

  • Award documents
  • Customs or Excise bonds
  • Partnership Agreements
  • Reconveyance of Mortgage of Property
  • Security Bond or Mortgage
  • Adoption Deed
  • Affidavit
  • Memorandum of Agreement
  • Agreement to Lease
  • Bills of Exchange
  • Gift Deeds
  • Agreements of Sale
  • Loan Agreements

 

The stamp duty rates and tariffs vary for each of these documents, to view the stamp duty and registration fees to be paid locally in Maharashtra, go here

Manually checking the Maharashtra state government’s rates for stamp papers is too inconvenient for most businesses. To alleviate this challenge, SignDesk’s digital stamping solution comes with an in-built stamp duty calculator for businesses to pay the right amount for stamping.

How To Pay Stamp Duty & Stamp Documents In Maharashtra 

In Maharashtra, the purchase of stamp paper for a document is synonymous with getting the document stamped.

Stamp duty is a tax or fee paid to State governments and a document being stamped indicates that stamp duty has been paid.

The stamping laws mandating Maharashtra stamp paper and stamp duty payment, outline three ways to pay stamp duty in Maharashtra.

Franking 

Franking in Maharashtra is among the most recognizable methods of stamp duty payment. To get documents franked in Maharashtra, customers must approach individuals or organizations with a franking license. Franking machines are also available at select post offices in Maharashtra.

This method of stamping involves impressing a document with a stamp using the franking machine.

Problems With Franking

The efficiency of franking depends on the availability of franking machines. Businesses often do not have the time to co-ordinate between agents and persons with franking licenses, to get agreements stamped. The lack of availability of franking machines and the process of getting documents all the way to a franking machine, both serve to make franking inconvenient for businesses.

Additionally, franking involves the usage of paper documents which come with their own problems of storage, mismanagement, and potential for stamping fraud.

Purchasing online stamp paper in Maharashtra via eSBTR is an easier option.

Stamp paper purchase 

Another method for stamp paper procurement in Maharashtra is by co-ordinating with authorized stamp paper vendors. Maharashtra’s Chief Controlling Revenue Authority has authorized over three thousand vendors to sell stamp papers.

To pay stamp duty manually, businesses simply have to specify the denominations of stamp papers required and pay the chargeable amount to the stamp paper vendor.

Problems With Manual Stamp Paper Procurement

The manual procurement of stamp paper in Maharashtra suffers from the same problems as franking. Managing the logistics of sending agents out to buy stamp paper, affixing them on the required documents, and tracking these documents through to execution is a massive challenge for businesses.

Additionally, this method of stamp paper procurement takes too long. Businesses typically spend weeks waiting on stamp paper orders from vendors, which increases risk and results in a loss of efficiency and ultimately, a loss of business.

eSBTR again emerges as a better alternative to purchasing eStamp paper in Maharashtra.

GRAS eSBTR – eStamp Equivalent In Maharashtra  

The Government Receipt Accounting System or GRAS is a digital infrastructure built by the Maharashtra state government to handle stamp duty, registration fees, and any receipts involved in the payment of state taxes.

eSBTR is a convenient and online method of purchasing eStamp paper online in Maharashtra. The process was introduced by the state government to enable the digitization of stamp duty payments.

People desirous of using the eSBTR facility will need to have a NetBanking account, with over-the-counter processes available at banks registered with GRAS.

The process of eStamping a document using eSBTR essentially involves – logging into an eStamping portal, choosing the required stamp paper denominations, entering the stamping details, uploading the document to be stamped, and making the stamp duty payment online.

The e-stamped document, which is merged with e-stamp papers online, is downloadable for reference.

E-Stamping with eSBTR allows businesses to purchase stamp paper online in Maharashtra, and streamline the eStamping process.

eSBTR E-Stamping For Businesses In Maharashtra 

Online stamp duty payment via eSBTR provides businesses with an expedient and convenient method to purchase eStamp papers online in Maharashtra.

eSBTR affords businesses the flexibility and potential to pay stamp duty in real-time, get documents eStamped in bulk, and ensure short turnaround times for crucial processes.

Online procurement of eStamp paper in Maharashtra helps businesses solve the challenges posed by franking and manual stamp paper procurement.

E-Stamping via eSBTR is a legally sound method for businesses to execute documents online quickly and ensure smooth processes for loan disbursement, insurance policies, and other business agreements.

 Is eSBTR the same as E-Challan?  

Customers obtaining an eSBTR will be familiar with E-Challans, despite the two being markedly different.

An E-Challan is a printed acknowledgment of the registration fee having been paid to register a document. eSBTR, on the other hand, serves as proof of payment if stamp duty on a document.

Additionally, E-Challans are only required for compulsorily registrable documents and are printed on simple paper. Whereas eSBTR is printed on secure stationery with in-built security features.

Typically, eSBTR and E-Challans are obtained together as both registration fees and stamp duty needs to be paid on most documents. However, the latter usually doesn’t require a trip to the bank.

Read all about the differences between eSBTR and E-Challans here

 How To eStamp Documents Online In Maharashtra With eSBTR

The procedure to leverage eSBTR for the purchase of eStamp papers in Maharashtra is simple and involves the following steps.

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Step 1: Log into SignDesk

The user logs into SignDesk with credentials

Step 2: Upload a Document

The document requiring eStamping is uploaded or created using templates 

Step 3: Specify stamping details

Details such as stamp state, stamp amount, consideration amount, stamp paper type (traditional or eSBTR), etc are selected

Step 4: Select document category & party type

Document category, such as movable or immovable properties, is selected. Parties are specified as either Individuals or Organizations. 

Step 5: Make the stamp duty payment

The stamp duty payment is made in real-time using a digital wallet 

Step 6: E-Stamping

Once the payment is made, an eSBTR challan is procured and merged with the uploaded document. 

Step 7: Proceed for E-Signatures

Once eStamping via eSBTR is complete, the user can optionally invite signers and proceed for eSignatures

Step 8: Download stamped & signed document 

The eStamped & eSigned documents can now be downloaded 

E-Stamping In Maharashtra – Advantages For Businesses

  1. Expedited stamp duty payment

The entire eSBTR eStamping process is completed within minutes.

  1. Bulk document upload and eStamping

Businesses can draft, upload & digitally stamp multiple documents using SignDesk’s eStamping pipeline. 

  1. No dependencies on manual stamp paper procurement

Businesses can get documents digitally merged with an eSBTR challan and then printed instead of manually procuring stamp papers from vendors 

  1. Track documents in real-time and manage agreements online

Businesses can streamline their processes by tracking the status of agreements in real-time and managing documents on a smart eStamping dashboard 

  1. Mitigated stamping fraud risks

Online payment of eStamp duty reduces risks of stamping fraud  

  1. Improved efficiency, lower TATs, and happier clients

With eSBTR, businesses can get more done quicker. The eStamping process enables faster onboarding and quick loans, making for satisfied customers. 

Pay Stamp Duty Online Now – E-Stamp Paper In Maharashtra  

Maharashtra stamp paper can be procured and paid for completely online with SignDesk’s award-winning digital stamping solution with eSBTR integrations.

Stamp.it- our nationally acclaimed E-stamping platform enables businesses to upload documents in bulk, create documents using templates, and get every document eStamped & printed on Maharashtra eStamp paper by merging with eSBTR challans.

With digital stamping, the entire stamp duty payment process takes just a few minutes and leaves no room for misplaced files, manual errors, or stamp duty fraud.

Book a free demo to see how digital stamping can enhance your business efficiency.

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