Amendment of Schedule - I

In Articles 35 to schedule 1 of the Indian Stamp Act, 1899, (as amended by Meghalaya) after entry No. (c), new entry

1. (d) shall be inserted as follows,-

Description of Instrument Proper stamp duty

"d Where lease is granted for mining of minerals:

1. (i) Where the lease is granted for more than one year and not exceeding ten years One rupee for every hundred rupees of the total amount of the average annual royalty payable calculated on the highest annual extraction of minerals as per approved mining plan.
2. (ii) Where the lease is granted for more than ten years and not exceeding twenty years Two rupees for every hundred rupees of the total amount of the average annual royalty calculated on the highest annual extraction of minerals as per approved mining plan.
3. (iii) Where the lease is granted for more than twenty years and not exceeding thirty years Three rupees of every hundred rupees of the total amount of the average annual royalty payable calculated on the highest annual extraction of minerals as per approved mining plan.
4. (iv) Where the lease is granted for more than thirty years and not exceeding fifty years Four rupees for every hundred rupees of the total amount of the average annual royalty calculated on the highest annual extraction of minerals as per approved mining plan."