In a move towards digitization, the government of Himachal Pradesh has decided to completely stop the printing of physical stamp papers and instead, collect stamp duty through e-mode only. The decision comes into immediate effect, with the sale of physical stamp papers set to be discontinued in the state from the next financial year through the e-stamp system.
Authorized stamp dealers in the state have been given a year’s time to make the switch from physical stamp papers to the e-stamp system. During this one-year transition period, both systems will be in operation, with vendors being allowed to use pre-printed stamp paper until March 31, 2024.
By fully adopting the e-stamping system, the state government is expected to save approximately Rs 50 crore per annum in revenue, which was previously spent on the printing of physical stamp papers.
In addition to the financial benefits, the move is also expected to increase the maximum limit of stamp paper sale for vendors from Rs 20,000 per day to Rs 2 lakh per day. This will undoubtedly be a significant boost for the stamp vendors in the state.
Consumers will also benefit from the e-stamp system, as e-stamps can be generated on the portal of Central Record Keeping Agency Stock Holding Corporation of India Limited (SHCIL) by authorized stamp vendors, who will pay a minimum commission for the privilege.
The decision to stop printing physical stamp papers and fully adopt e-stamping is a significant step towards a more digitized and streamlined process for stamp duty collection in Himachal Pradesh.
