Cuttack, June 27: The state government today introduced e-stamping as another mode of collecting stamp duty.

Stock Holding Corporation of India Ltd, with whom the state government had signed an agreement earlier this month, has been authorised as the central record-keeping agency for implementation of e-stamping in the state.

Stamp duty is a levy on legal documents for various purposes, including land transactions. The e-stamping is electronically generated stamp paper, which could be used as a safe and secure method of paying stamp duty for any purpose without physical purchase of stamp paper.

Inaugurating e-stamping system at the collectorate, revenue minister Bijayshree Routray said the hassle-free facility would not only benefit the public, but also the state government. The process would save the cost of printing, storage and transportation of stamp papers, he said.

To inaugurate the system, Routray handed over electronically generated stamp papers of Rs 11,000 to Pratap Chandra Dixit and Basanti Panda. However, the practice of using physical stamp paper would continue even after introduction of e-stamping.

Principal secretary, revenue, Mona Sharma said e-stamps was an optional mode and would be issued to pay stamp duties exceeding Rs 1,000. The e-stamping facility, which was introduced at the sub-registrar offices in Cuttack, Bhubaneswar and Rourkela today, will subsequently be available at all the 185 registration offices across the state.

Sharma said the revenue collection in way of stamp duty in 2015-16 was Rs 2,700 crore. He said introduction of e-stamping would not only make revenue collection easier, but also check pilferage and frauds.

Among others, state industries minister Debi Mishra, Stock Holding Corporation's Bhubaneswar branch manager Akhsay Kumar Chand and Cuttack collector Nirmal Chandra Mishra were present.

Sources said Odisha introduced e-stamping after more than 10 years of its introduction and 17 states across the country had adopted it.