(a) Notwithstanding any other provision of law, any document not stamped within the proper time shall be subject to a penalty of double the stamp tax due; Provided, however, That the maximum penalty shall be the sum of one hundred dollars ($100.00) in addition to the imposition of the proper stamp tax.
(b) The Commissioner of Finance may mitigate or entirely remit fines prescribed by this section —
(1) when the infringement, on account of particular circumstances, is deemed to be excusable or cannot be imputed to the party concerned;
(2) when the infringement is on account of poverty; and
(3) when the document because of the insolvency of the debtor has become worthless.