The government has reportedly replaced the 74-year-old outdated system of stamp papers with an e-stamping system across the country, including Punjab.
According to media reports, stamp papers worth Rs. 50 have also been abolished. Now, only four different types of online code stamp papers worth Rs. 100, Rs. 200, Rs. 600 and Rs. 1,200 will be rolled out.
Stamp paper sellers have been allowed to sell written stamp papers worth Rs. 100 for Rs. 200.
Under this new system, Rs. 100 stamp papers will be used for water, electricity, gas, telephone, affidavits of connections, and affidavits submitted to courts.
Similarly, Rs. 1,200 denomination stamp papers will be used for property contracts and agreements, and Rs. 600 stamp papers will be used for power of attorney, while Rs. 200 stamp papers will be used for multiple purposes.
The online code system would help eliminate forgery, fraud, counterfeit stamps, and backdated fake stamp papers.
Under the new system, every vendor will need to have a laptop, a printer, and an internet connection, which will be an additional expense for the vendor.