The Finance Department (Rajasthan) on July 13, 2021 has issued a notification in supersession of notification no. FA(4)FD/Tax/2020-133 dated February 20, 2020 to exempt the excess registration fees chargeable of rupees ten thousand on the instrument of transfer of immovable property of sick MSMEs for their revival.
The conditions for exemption are as followed:
• Possession of such micro or small enterprise has been taken over by the RIICO, RFC, Financial Institutions or banks under section 29 of the State Financial Corporation Act, 1951 section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
• Udyam Registration, Udyam Aadhar, Entrepreneur Memorandum-2 (EM-2) or any other relevant evidence regarding the category of the enterprise is submitted at the time of registration of such instrument
Provided that this notification will also be applicable on the instruments pending for registration or reference before Sub-Registrar or adjudication before Collector (Stamps) or other COUlis but registration fee already paid according to the provisions of the Registration Act, 1908 will not be refunded.
[Notification No. F.2(97)FD/Tax/20 I0-42]
