Stamp duty and registration fee mop-up tops ₹1L cr in 8 months

MUMBAI: Led by Maharashtra, the cumulative revenue collection from stamp duty and registration fee of all the states jumped to ₹1,00,100 crore for the first eight months of the current fiscal year, which for the entire FY21 was ₹1,27,700 crore, according to a report.

An analysis of state-wise data by Motilal Oswal Financial Services showed that the average monthly collection by 28 states stood at ₹12,500 crore during the reporting period of April-November 2021, which is slightly lower than ₹12,800 crore in the pre-pandemic days. But, the monthly average is higher than ₹10,600 crore recorded in FY21.

The report did not offer a comparative number for the same eight months period of FY21 when the country was hit with the pandemic.

Thanks to Mumbai and Pune, Maharashtra recorded the highest collection of ₹17,097 crore, contributing 17.1% of the total collection during the period, followed by Uttar Pradesh, Tamil Nadu and Karnataka with ₹12,800 crore, ₹8,700 crore and ₹8,400 core, respectively, as per the analysis.

In FY21, Maharashtra’s collection stood at ₹25,427 crore or 19.9% of the national total, followed by Uttar Pradesh at ₹16,475 crore or 12.9% of the total, Tamil Nadu ₹11,675 crore or 9.1%, Karnataka ₹10,576 crore or 8.3%, Telangana ₹5,243 crore or 4.1%, Gujarat ₹7,390 crore or 5.8%, Haryana ₹5,157 or 4%.

Madhya Pradesh collected ₹6,760 crore or as much as 5.3% of the national mop-up in FY21, Bengal ₹5,527.6 crore or 4.3%, Andhra Pradesh at ₹5,603.3 crore or 4.4%, Rajasthan ₹5,297.3 crore or 4.1%, Bihar ₹4,206.3 crore or 3.3%, and Kerala ₹3,489.6 crore or 2.7%. Other states had under ₹3,000 crore collection or less than 3% of the national share.