According to the report, if any registering authority receiving assets for registration has reasons to believe that the true market value of property has not been truly set forth in the instrument, the authority should refer such an instrument to the Collector of Stamps to determine the true market value of the property.
The Comptroller and Auditor General (CAG) has slammed the Maharashtra government over delay in disposal of 1,24,325 cases by department of Registration and Stamps (RS) after it emerged that Rs 726.8 crore revenue has been blocked due to the delay.
The figures of the outstanding amount were as on March 31 last year.
The CAG report, tabled in both the Houses of the state Legislature last week, also recommended that the state government set a time frame and monitor at the apex level for the disposal of the cases.
"The department may maintain a proper and correct database of adjudication cases for effective monitoring and draw up a time bound framework for their finalisation so that the government revenue is not unnecessarily blocked," the CAG report said.
According to the report, if any registering authority receiving assets for registration has reasons to believe that the true market value of property has not been truly set forth in the instrument, the authority should refer such an instrument to the Collector of Stamps to determine the true market value of the property.
The CAG noted that 1.14 lakh adjudication cases involving stamp duty of Rs 129.76 crore forwarded by Stamp Registrar (SR) to the Collector of Stamps (COS) were outstanding as on March 31, 2014.
It further said that 7,125 impounded cases involving stamp duty of Rs 77.24 crore brought for adjudication were shown outstanding as on March 31, 2014.
The report said 1,990 adjudication cases involving stamp duty of Rs 390.32 crore were pending (March 2014) for Adjudication before the Collector of Stamps (COS).
It further stated that 951 cases involving stamp duty of Rs 129.49 crore were shown outstanding as on March 31, 2014 as pending adjudication with the Inspector General of Registration (IGR).
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