Stamp Duty - Mortgage & Hypothecation

Sunny (CA Business) (401 Points)

28 March 2023  

Company ABC Pvt. Ltd. is having its registered office in Maharashtra and having presence in multiple states having different GSTIN of each state. While availing bank loan, company has to pay stamp duty. the property to be mortgage is situated in Maharashtra. However with respect to Hypothecation which is collateral to the primary security - have presence in other states as well. Due to different stamp duty in different states with respect to Hypothecation. Say For e.g. it is specific % of stamp duty in the state of Maharashtra but in some states it is flat 500 rupees only.
1. Whether a company can execute Mortgage deed in one state and hypothecation deed in another?

2. Is there any specific mention in any Stamp Act, that stamp duty on Hypothecation has to be paid only in the state where company's registered office is there?

 

Thank you