Payment of stamp duty through Government Receipt Accounting System

(1) Notwithstanding anything contained in this Act, the State Government may, by notification in the Official Gazette, direct that any State Government Department, institution of local self-Government, semi Government organization, banking or non-banking financial institution or the body owned, controlled or substantially financed by the State Government or any class of them, shall ensure that the proper duty is paid to the State Government through Government Receipt Accounting System (G.R.A.S.) or by any other system of payment as may be notified by the State Government in this behalf, in respect of such instruments, as may be specified in the notification in which such Department or body, etc., is a party or which create a right in favour of such Department or body, etc., and of which registration is not compulsory: Provided that, in case of instruments requiring stamp duty of less than Rs. 500, the stamp duty may be paid to the State Government through any other mode of payment permissible under this Act and the provisions of sub-sections (2) and (3) shall not be applicable in case of such payment. (2) In computing the period of seven days, the day on which the amount of stamp duty is paid by the person and the day on which the challan is defaced electronically in the Government Receipt Accounting System (G.R.A.S.) or any other system of payment notified by the State Government in this behalf shall be excluded. (3) The registering officer shall, before registering the instrument, verify the genuineness of the challan as provided in sub-section (2). Provided that, whenever the Stamp Duty has been paid through Government Receipt Accounting System (G.R.A.S.) by receipt of e-payment i.e. electronically Secured Bank and Treasury Receipt (e-SBTR), the provisions of sub-sections (2) and (3) shall not be applicable.