Subject to the provisions of this Act and the exemptions contained in Schedule I, the following instruments shall be chargeable with duty of the amount indicated in that Schedule as the proper duty therefor respectively, that is to say
(a) every instrument mentioned in that Schedule which, not having been previously executed by any person, is executed in the [Union territory of Jammu and Kashmir] on or after the date on which this Act comes into force ;
(b) every bill of exchange [*] [payable otherwise than on demand] or promissory note drawn or made out of the [Union territory of Jammu and Kashmir] on or after that day and accepted or paid, or presented for acceptance or payment, or endorsed, transferred or otherwise negotiated, in the [Union territory of Jammu and Kashmir] ; and
(c) every instrument (other than a bill of exchange, [*] or promissory note) mentioned in that Schedule, which, not having been previously executed by any person, is executed out of the [Union territory of Jammu and Kashmir] on or after that day, relates to any property situate, or to any matter or thing done or to be done, in the [Union territory of Jammu and Kashmir] and is received in the [Union territory of Jammu and Kashmir] :
[Provided that wherever no proper duty has been paid on the original of an instrument which is chargeable to duty with an amount indicated in the ScheduleI as the proper duty therefor, a copy of such instrument or record relating to, or in respect of, the transaction shall be chargeable with duty of an amount which is indicated in ScheduleI as the proper duty for the original of such instrument :]
[Provided further that] no duty shall be chargeable in respect of
(1) any instrument executed by, or on behalf of, or in favour of, the [Government of the Union territory of Jammu and Kashmir] in cases where, but for this exemption, the [Government of the Union territory of Jammu and Kashmir] would be liable to pay the duty chargeable in respect of such instrument ;
(2) Omitted.