Complete Reference of The Maharashtra Stamp Act

Complete Reference of The Maharashtra Stamp Act

The Maharashtra Stamp Act,1958 applies to the entire State of Maharashtra. Only the instruments specified in the Schedule I to the Act are covered by this Act. All other instruments are either chargeable under the Indian Stamp Act (e.g., transfer of shares) or are not chargeable at all (i.e., if they are not specified under the Act as well as under the Indian Stamp Act).

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An Act of Parliament creates a new law or changes an existing law. An Act is a Bill that has been approved by both the House of Commons and the House of Lords and been given Royal Assent by the Monarch.The Government are responsible for bringing new laws into force, once they has been passed by Parliament.

An Act may come into force immediately, on a specific future date, or in stages. You can find out when an Act is due to come into force by looking at a section of the Act itself, headed ‘Commencement’ – this is among the very last sections of an Act.

Sometimes a specific date is not given and the timing is left to the discretion of the Secretary of State for the relevant government department.

First reading - introduction stage: Any member, or member-in-charge of the bill seeks the leave of the house to introduce a bill. If the bill is an important one, the minister may make a brief speech, stating its main features.Second reading - discussion stage: This stage consists of consideration of the bill and its provisions.Third reading - voting stage: This stage is confined only to arguments either in support of the bill or for its rejection as a whole, without referring to its details. After the bill is passed, it is sent to the other house.Bill in the other house (Rajya Sabha): After a bill, other than a money bill, is transmitted to the other house, it goes through all the stages in that house as that in the first house. But if the bill passed by one house is amended by the other house, it goes back to the originating house.

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