Rajasthan doubles cow cess on stamp duty charges
New Delhi: Rajasthan government has doubled the cow cess on stamp duty of properties to prepare a war chest to tackle natural calamities and man-made exigencies.
Hence the cow cess now stands at 20 percent instead of the 10 percent earlier. The total cess on stamp duty comes to 30 percent since there is a Swachh cess of 10 percent already. The money collected with the imposition of the extra cow cess will be utilized by the state government in dealing with floods, epidemic and public health emergencies.
The stamp duty itself was hiked by the state government from 5 percent to 6 percent in February this year. Now with the increased cess, the total stamp duty comes to 8.8 percent. It was 8.2 percent earlier. The finance department of the government has come up with such an order on Friday.
This has come as surplice and shock to the real estate developers in the state which were expecting some relief from the government in the wake of the economic crisis inflicted by corona virus.
However, the state government had provided huge relief earlier this week to the developers in terms of extension of one in project completion deadlines for the RERA registered projects.