QUESTION & OPINION

– B. Kanaga sabapathy
10.03.2022

Question :

Is GLV and CII value the same? If not, what is the difference?

Opinion :

1. Guideline value and Cost Inflation Index value are not the same. They are totally different.

2. Guideline value is fixed by the registration department for the purpose of fixing stamp duty while registering the sale deeds, settlement deed, etc., whereas the cost inflation index is fixed for the purpose of indexation while ascertaining the capital gains.

3. Guideline value is fixed by the respective State government based on the policies of the government whereas the cost inflation index is prescribed by the Central Board of Direct Taxes (CBDT) belonging to the Government of India.

4. Guideline value will be fixed then and there or periodically whereas cost inflation index will be prescribed once in a year.

5. There is no fixed period for fixing guideline value whereas the cost inflation index is fixed for each financial year (For example, the Cost inflation index for 2021 – 22 is 317).

6. Guideline value will vary for various survey numbers, streets, lanes and different locations whereas cost inflation index will be the same for all the locations in the country.

7. During the appeal under section 47A of stamp duty, the guideline value can be decreased by the deputy collector of stamp duty whereas the cost inflation index value remains the same irrespective of any situation.

8. Guideline rate is the rate fixed for land per sq.ft. or sq.yard or sq.m. whereas the cost inflation index is the index figure without any unit.