CHANDIGARH: The Punjab government said on Wednesday that physical stamp papers would be phased out in order to improve efficiency and curb state income pilferage. Any denomination of stamp paper can now be received through e-stamp, or computerised print-out, from any stamp vendor or government-approved bank.

Punjab Revenue Minister Bram Shanker Jimpa said after the introduction that the e-stamping option was only available for items worth more than Rs 20,000. "This facility will be extended to stamp papers for all denominations starting at Re 1," he stated.  

The government's decision will save at least Rs 35 crore yearly in stamp paper printing costs, as well as make it easier for the public to access stamp sheets. The minister said that most of the time, the public had difficulties obtaining stamp paper since it was either unavailable from the stamp vendor or had to be purchased at a higher price.

The government will pay a 2% commission to stamp vendors on e-stamps ranging from Rs 1 to Rs 19,999, according to the minister, while the public will receive stamp paper at the actual rate, i.e., they will have to pay only Rs 100 for stamp paper worth Rs 100 and no additional commission will be charged. He noted that this measure will also aid in the reduction of stamp paper-related frauds.

The facility was launched with the support of National e-Governance Services Ltd, according to Secretary Revenue Manvesh Singh Sidhu. People will no longer need to go anyplace because the facility has been launched, and they will be able to use it in banks.

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