Government to destroy ₹5,600 cr physical stamps to prevent misuse

SOME COMPLAINTS OF MISUSE OF PHYSICAL STAMPS HAVE ALREADY BEEN RECEIVED FROM DISTRICTS SUCH AS MEERUT

- Brajendra K Parashar

LUCKNOW: In a significant move towards digitisation, the Uttar Pradesh government is planning to destroy all non-judicial physical stamps, which are worth around Rs 5,600 crore and currently stored in treasuries across the state, prior to making e-stamping mandatory. The move aims to prevent the potential misuse of leftover physical stamps.

"The proposal, which includes the controlled burning of physical stamp papers of various denominations, is expected to be presented to the Cabinet shortly for final approval," a senior officer of the department of stamps and registration said.

"Once implemented, the move will mark a decisive step towards curbing fraudulent practices and streamlining the stamp duty payment process in Uttar Pradesh," he claimed.