Levy of cess on transfer of vacant land.

(1) There shall be charged, levied and paid a cess on transfer of vacant land and land used for the purpose of agriculture at a rate of five per centum of the value of consideration for such transfer. (2) The cess charged and levied under sub-section (1) shall be paid and recovered along with the registration of instrument of transfer of the vacant land and land used for the purpose of agriculture. (3) The cess shall be payable by the person by whom the stamp duty is payable under the Indian Stamp Act, 1899 (II of 1899). (4) Notwithstanding anything contained in the Registration Act, 1908 (XVI of 1908), no officer thereunder shall admit to registration any document unless the cess charged and levied under sub-section (1) is paid in full. (5) The proceeds of the cess shall be applied to rural development specially for providing employment in rural areas.