Table of Contents

When Was E-Stamp Paper Introduced in India?What is E Stamp Paper?Online Stamp Duty Payment for E-Stamp Documents The following steps are involved in E-Stamping:How To Generate Stamp Duty Payment Slips?Using the Mobile Application for E Stamp E Stamps Verification 8 Benefits of Using E Stamps FAQ's

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Home Blog Real Estate Legal Guide E Stamp Process in India

A Comprehensive Guide to E Stamp and E Stamping Process

Updated : July 12, 2024

Author : kiranks

Real Estate Legal Guide

8951 views

You must pay stamp duty to national or state authorities to purchase, sell, produce a deed, or even rent your property. Electronic stamping, often known as e-stamping, is a technique of electronically paying government non-judicial stamp tax. Previously, stamp duty for registration had to be paid in person at the sub-office. Most of the process can now be completed online thanks to the e-stamp paper online method.

To ensure a quick and trouble-free payment, the government has replaced the conventional paper & franklin stamping approach with a digital plan. This service is currently available in 22 Indian states. The state of Maharashtra has its digital stamp duty payment system. In this blog, we will explain the meaning of the e-stamp, the online e-stamp payment system, the download process, and much more.

When Was E-Stamp Paper Introduced in India?

In July 2013, the Indian government started the India e-stamping system. This effort attempted to reduce fraud and errors in stamp duty receipts. In India, the Central Record Keeping Agency (CRA), the Stock Holding Corporation of India Limited (SHCILestamp), can issue e-stamp certificates. Authorised Collection Centres (ACCs) are designated intermediaries, such as a bank or a post office, in charge of issuing e-stamp paper in place of CRA. State governments establish various ACCs.

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Stamp duty is a tax levied by governments on legal documents used to transfer property or assets. Governments levy stamp duties, sometimes known as stamp taxes, on documents necessary to legally record certain types of transactions. The Indian Stamp Act covers the levying of stamp duty, the documents on which stamp duty may be imposed, and the various stamp duty rates (1899).

Historically, governments imposed these taxes to raise revenue for government programmes and initiatives. Stamps are thought to have originated in 17th-century Spain. These taxes were known as stamp duties because a tangible stamp was affixed on the document as proof that the document had been recorded and the tax due had been paid.

Stamp duty has always been paid by hand, but with technological advancements, online stamp duty payment has developed as a simple and cost-effective solution for businesses. Consideration price meaning in e-stamp refers to the total value of money involved in a purchase or sale transaction between two parties.

What is E Stamp Paper?

E-stamp paper, also known as electronic stamping or e-stamping, is not a physical piece of paper. It's a digital method for paying the government's non-judicial stamp duty on a property or document.

Traditionally, people had to buy physical stamp papers with specific denominations to meet the stamp duty requirement. E-stamping eliminates the need for physical papers and offers a more convenient way to pay this tax. Stamping in agriculture means the use of a metal stamping process to create parts for farm equipment.

Online Stamp Duty Payment for E-Stamp Documents

E-stamping, also known as digital Stamping, is a technique of paying stamp duty online safely and lawfully and digitally rendering stamp papers that may be affixed to electronic documents. In a word, it is an online service that provides e-stamp process documents.

India's stamping system is a two-part process for paying a tax called stamp duty on various legal documents and property transactions. Many businesses offer a digital, seamless documentation workflow that complies with state and federal stamp standards. By digitally stamping papers, businesses can speed up the documentation process while securely stamping documents from anywhere and at any time.

The following steps are involved in E-Stamping:

Step1: Visit the https://www.shcilestamp.com/ website and log into the electronic stamping portal.

Step2: Upload or generate a stamp-able document, templates can also be used to draft papers.

Step3: The user enters transaction information for e-stamping, such as state, stamp denominations, first and second-party information, and other details. These can also be filled out automatically.

Step4: The user must fill out the application and submit it to the collection centre.

Step5: To make the necessary payment, the user must submit the application using Credit Cards, Debit Cards, e Stamp Checks, Demand Drafts, online payment, and online banking.

Step6: The document is e stamped and combined with the stamp paper sample required. After that, the user obtains the e-stamp certificate, which can be validated using a QR code.

E Stamping Process — credits: www.shcilestamp.com
The SHCIL e-stamp official website portal of the Indian government

How To Generate Stamp Duty Payment Slips?

There are several payment methods available for e-stamp paper registration. You can pay the cost using cash, check, NEFT, RTGS, or account transfer.

Step1: To go to new SHCILestamp users, click the 'Register Now' option on https://wbregistration.gov.in/(S(izm2kocaeglz13jxbasnro1z))/index.aspx website.

Step2: Enter your User ID, password, security question, and bank account information.

Step3: To access your services, enter your user ID and password. This will happen after you confirm using the activation link sent to your registered email.

Step4: Login with your enabled username and password.

Step5: Choose the state in which you wish to pay the stamp duty.

Step6: Choose the 'Nearest SHCIL Branch' option to generate a referral number for any amount that can be paid using net banking, debit card, NEFT, RTGS, or FT. This option, which includes 1st Party Name, 2nd Party Name, Article No, Stamp Duty Payable, and Stamp Duty Amount, is required.

Step7: Take a printout of your non-judicial stamp paper Online Reference Confirmation Number to your local Stock Holding Branch. The final print of the e-stamp paper can be obtained from there.

Using the Mobile Application for E Stamp

The E- Stamping smartphone app can validate the e-stamp paper. Download the app from AppStore or Google Play. You will have two verification options in this app: scanning the QR code accessible on e-stamp paper or manually checking. Remember that QR codes are unavailable on certificates issued before February 13, 2019.

Scan a QR code with the app's camera, and all the information will be displayed. You can do it manually by clicking the manual button and selecting the state. After that, input the e-stamp certificate number, the date the certificate was issued, the unique document number, the amount reference, who purchased the document, the document's content, the stamp duty amount, the consideration price, the first party, and the third party.

E Stamps Verification

There are two main ways to verify an e-stamp certificate in India:

Online Verification

Visit the Stock Holding Corporation of India (SHCIL) website, the official authority for e-stamping in India [SHCIL eStamp].
Click on "Verify e-Stamp Certificate" on the homepage.
Enter the required details, which typically include:
- State where the e-Stamp certificate was issued
- Certificate Number (UIN) - a unique identification number
- Stamp Duty Type (e.g., description of the document)
- Certificate Issue Date
- Verification Code (if displayed)
Click "Verify" to see if the e-stamp certificate is genuine.

Mobile App

Download the SHCIL EStamp Verification app from the Google Play Store.
You can either scan the QR code on the e-stamp certificate or manually enter the certificate details.
The app will then retrieve and display the full details of the certificate for verification, even offline.

8 Benefits of Using E Stamps

1. Simple to apply - You no longer need to stamp papers individually with an e-stamp, as you would with traditional stamps. A single e-stamp can be applied to several documents.

2. Reduces counterfeiting - Because they use "layered security" technology, e-stamps should reduce the possibility of document falsification.

3. Electronic certificate authentication - E-stamps include electronic certificates that validate papers, prove document ownership, ensure document authenticity, and are legally binding.

4. Meets the demands of the digital age - The transition from traditional to digital stamps is consistent with the overall deployment of strategies and procedures to ease corporate activities in the digital era. Digital transformation is utilised to boost business productivity effectively and efficiently.

5. No face-to-face interaction - E-stamps could be used remotely and do not require face-to-face interaction between the seller and the buyer. This was very important during the pandemic. E-stamping can be accomplished using a smartphone application too.

6. Efficient and effective - Every firm requires some level of record-keeping. Legal documents must typically be signed both externally and internally by a corporation. Businesses no longer need to physically print and mail papers because of e-stamps and digital signatures, saving money on paper, printer & ink costs, and courier fees.

7. Legality of E Stamps - PSTE Government Oversight No. 71 of 2019 regarding the Adoption of Electronic Systems & Transactions governs e-stamps. Because it carries an electronic certificate, an e-stamp is as lawful as a traditional stamp and is legally binding. E stamps serve the same purpose as traditional stamps: to authenticate letters or documents. The stamp is often used as a sign of approval by superiors in commercial agreements and correspondence.

8. Complementing digital signatures - E-stamps are legal items that are legally binding when used in conjunction with digital signatures. They also help to reinforce decision outcomes on specific document sheets. The e-stamp confirms that the decision has been reached and that the letter or document is genuine. The parties to the e-stamped document are obligated to follow the requirements outlined in the document. The e-stamp works similarly to a digital signature; therefore, they complement each other.

The e-stamp document description provides details about the property or transaction, including the consideration price, for accurate stamp duty calculation. To summarise, stamp duty is required when purchasing or selling property in India. With the advancement of technology, the government launched E-stamping, an electronic and secure method of paying non-judicial stamp duty to the government. In July 2013, the government launched this campaign to decrease errors and counterfeits. You can e-stamp your documents, pay an Indian e-stamping cost online, and check the e-stamp.

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FAQ's

Q: How to locate the closest sub-registrar's-office?

Ans: To find your local sub-registrar, go to the SHCIL e-stamp website, then to e-stamping, and finally to the state. After you have decided on a state, look for the local sub-office. registrar's

Q: Is it possible to pay stamp duty online?

Ans: You can use the Stock Holding e-stamp gateway to pay your stamp duty online. Fees can be paid with cash, card, NEFT/ RTGS, or any other manner.

Q: Is there a cost for a SHCIL login?

Ans: The Stock Holding e-stamping website has no e Stamp registration cost. However, because the land in India is state-subject, you must pay stamp duty payments to the state government.

Q: Is it possible to obtain a duplicate copy of the e-stamp certificate and change the information on the e-stamps certificate?

Ans: No, the authority will not supply a duplicate copy of the e-stamp paper; after the e-stamp certificate is generated, it cannot be modified.

Q: What exactly is franking?

Ans: The process of getting documents stamped is referred to as franking. This method marks or stamps the documents to indicate that they are legal and that any stamp duty payable has been paid.