Rajasthan Finance Act, 2021
No: 3 Dated: Mar, 18 2021
THE RAJASTHAN FINANCE BILL, 2021
A Bill further to amend the Rajasthan Stamp Act, 1998, the Rajasthan Fiscal Responsibility and Budget Management Act, 2005, the Rajasthan Motor Vehicle Taxation Act, 1951, the Rajasthan Contingency Fund Act, 1956 and the Rajasthan Value Added Tax Act, 2003, in order to give effect to the financial proposals of the State Government for the financial year 2021-22. Be it enacted by the Rajasthan State Legislature in the Seventy-second Year of the Republic of India, as follows:-
CHAPTER I
PRELIMINARY
1. Short title.- This Act may be called the Rajasthan Finance Act, 2021.
2. Declaration under section 3, Rajasthan Act No. 23 of 1958.- In pursuance of section 3 of the Rajasthan Provisional Collection of Taxes Act, 1958 (Act No. 23 of 1958) it is hereby declared that it is expedient in the public interest that provisions of clauses 3, 5, 6, 7, 8, 9 and 10 of this Bill shall have immediate effect under the said Act.
CHAPTER II
AMENDMENT IN THE RAJASTHAN STAMP ACT, 1998
3. Amendment of section 2, Rajasthan Act No. 14 of 1999.- In section 2 of the Rajasthan Stamp Act, 1998 (Act No. 14 of 1999), hereinafter in this Chapter referred to as the principal Act,-
(i) in clause (ia), for the existing punctuation mark “.” appearing at the end, the punctuation mark “;” shall be substituted and clause (ia), so amended, shall be renumbered as clause (i-b); and before the existing clause (i-b), so renumbered, the following clause shall be inserted, namely:-
“(i-a) “ancestral property” means the property inherited from one's mother or father or from their predecessors and includes the property of a coparcenary or an Undivided Hindu Family" and
(ii) for the existing clause (x-a), the following clause shall be substituted, namely:-
“(x-a) “concession agreement” means an agreement between the Central or State Government, local authority, statutory body or any other instrumentality of said Governments on one hand and a private entity on the other hand for providing public goods or services wherein such Government, authority, body or instrumentality grants certain specified right by way of licence to the private entity for a specified period to enable it to implement the project of such public goods or services;”.