Gujarat Stamp Act, 1958
(a) when the original mortgage is one of the description referred to in clause (a) of Article 40 (that is, with possession). The same duty as is leviable on a Conveyance under clause (a), (b) [ (c) or (d)], as the case may be, of Article 25, for the amount of the further charge secured by such instrument. (b) when such mortgage is one of the description referred to in clause (b) of Article 40 (that is, without possession)— (i) if at the time of execution of the instrument of further charge possession of the property is given under such instrument. The same duty as is leviable on a Conveyance under clause (a), (b) [ (c) or (d)], as the case may be, of Article 25, for the total amount of the charge (including the original mortgage and any further charge already madeless the duty already paid on such original mortgage and further charge. (ii) if possession is not so given [Ten rupees for every rupees five hundred or part thereof for the amount of further charge secured by such instrument, subject to the maximum of 2,00,000 rupees.] (c) where the lease is granted for a fine or premium or money advanced or to be, advanced in addition to rent fixed. Explanation I.—Rent paid in advance shall be deemed to be premium or money advanced within the meaning of this article even if there is provision to set if off towards any instalment or instalments of rent. Explanation II.—When a lessee undertakes to pay any recurring charge such as Government revenue, landlord's share of cesses, or the owner's share of municipal rates or taxes, which is by law recoverable from the lessor, the amount so agreed to be paid by the lessee, shall be deemed to be part of the rent. (c) of oil seeds .. .. .. One rupee for every 10,000 kilograms of oil seeds. (d) of yarn of any kind, non-mineral oils or spices of any kind. One rupee for every rupees 10,000 or part thereof of the value of yarn of any kind, non-mineral oils or spices of any kind as may be specified by the State Government by Notification in the Official Gazette. (e) of any other goods exceeding in value twenty rupees. One rupee for every rupees 10,000 or part thereof. (f) of any share, scrip, stock, bond, debenture, debenture stock or other marketable security of a like nature exceeding in value twenty rupees, not being a Government security. One rupee for every rupees 10,000 or part thereof of the value of the security, at the time of its purchase or sale, as the case may be. (g) of a Government security .. .. One rupee for every rupees 10,000 of part thereof of the value of the security, at the time of its purchase or sale, as the case may be subject to a maximum of one thousand rupees. Exemption (1) Note or Memorandum sent by a broker or agent to his principal intimating the purchase or sale on account of such principal or a Government security or a share, scrip, stock, bond, debenture, debenture stock or other marketable security of like nature in or of an incorporated company or other body corporate, an entry relating to which is required to be made in clearance lists described in clauses (1), (2) and (3) of Article 19. (2) Note or Memorandum sent by a broker or agent to his principal intimating the Purchase or sale of cotton on account of such principal, an entry relating to which is required to be made in a clearance list described in Article 20. (3) Note or Memorandum sent by a broker or agent to his principal intimating the purchase or sale of bullion or spices on account of such principal, an entry relating to which is required to be made in a clearance list described in Article 21. (4) Note or Memorandum sent by a broker or agent to his principal intimating the purchase or sale of oil-seeds on account of such principal, an entry relating to which is required to be made in a clearance list described in Article 22. Provided always that— (a) when an instrument of partition containing an agreement to divide property in severalty is executed and a partition is effected in pursuance of such agreement, the duty chargeable upon the instrument effecting such partition shall be reduced by the amount of duty paid in respect of the first instrument, but shall not be less than five rupees; (b) where the instrument relates to the partition of agricultural land, the rate of duty applicable shall be on hundred rupees; (c) where a final order for effecting a partition passed by any Revenue authority or any Civil Court or an award by an arbitrator directing a partition, is stamped with the stamp required for an instrument of partition, and an instrument of partition in pursuance of such order or award is subsequently executed, the duty on such instrument shall not exceed ten rupees. (h) in any other case Provided further that, when proper stamp duty is paid under clause (g-a) of article 5 on an agreement, or records thereof or memorandum of an agreement executed between the same parties and in respect of the same property, the duty chargeable under this clause shall be rupees one hundred.] Five rupees for each person authorised.] Explanation I.—For the purpose of this article more person than one when belonging to the same firm shall be deemed to be one person. Explanation II.—The term 'registration' xvi includes every operation incidental to registration under the Registration Act, 1908. Explanation III.—Where under clause (f) duty has been paid on the power of attorney, and a conveyance relating to that property is executed in pursuance of power of attorney between the executent of the power of attorney and the person in whose favour it is executed, the duty on conveyance shall be the duty calculated on the market value of the property.