Preschool franchise agreement

This query is : Resolved 
 

(Querist)
07 May 2018

We are an upcoming chain of preschools and have franchisees in Mumbai, Navi-Mumbai & Thane; and expanding further. We take one-time franchise fee of Rs. 3.00 lacs. Our franchisee agreements are on Rs. 100 stamp paper.

Is this enough or should we notarize/register the agreement? Whats are the charges toward notarizing/stamp duty+registration of the agreement? What are the benefits of registering the agreement?


kavksatyanarayana (Expert)
07 May 2018

Your query is not clear. it requires material facts. What are the terms and conditions of the franchise agreement?Without seeing all the papers and franchise agreement, it cannot be said whether the nature comes under Agreement or other. The stamp duty leviable basing on the nature of the deed.

rajeev sharma (Expert)
07 May 2018

Once you opt for registration Rs 3 lac will form consideration of agreement and stamp duty will be charged on this amount. For rate of stamp duty you may consult a local lawyer

R.Ramachandran (Expert)
07 May 2018

As advised by the experts here, you have to check up with the sub-registrar's office for the stamp duty payable.
Apart from this, you are also liable to pay GST. Better take care. Otherwise, there will he heavy penalty later on.

Ms.Usha Kapoor (Expert)
08 May 2018

I agree with experts.



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