Stamp Duty Reduction for Mining Deeds in Goa

The Government of Goa via a notification dated March 02, 2024, has promulgated “The Indian Stamp (Goa Amendment) Ordinance, 2024” amending section 3A, sub-section (1) of the Indian Stamp Act, 1899 which has reduced the stamp duty on mining lease deeds by 60%. Currently, the stamp duty on mining lease deeds is calculated by multiplying the Environmental Clearance Quantity by 15 (Fifteen) times and then the sum total is further multiplied by the period of lease. Now, under the new ordinance, the stamp duty will be arrived by multiplying the Environmental Clearance Quantity by 6 (Six) times and then further multiplying the sum total by the period of lease.

The goal of the government’s mining lease deed reduction program is expected to strengthen Goa’s reputation as a favorable location for mining operations, supporting the creation of jobs, income, and social development. Going forward, stakeholders expect additional policy interventions and initiatives aimed at tapping into the complete potential of the mining industry, promoting inclusive growth, and boosting Goa’s economic vitality both regionally and nationally.