Insertion of new section 30A

Insertion of new section 30A. —In the Kerala Stamp Act, 1959 (17 of 1959) (hereinafter referred to as the principal Act), after section 30, the following section shall be inserted, namely: — "30A. Ceiling on surcharge on stamp duty. —Notwithstanding anything contained in the Kerala Panchayat Raj Act, 1994 (13 of 1994) or in the Kerala Municipality Act, 1994 (20 of 1994), the rate of surcharge on stamp duty leviable on any instrument by a Grama Panchayat or a Municipality shall not exceed two per cent of the amount on which such stamp duty is payable.".