Bhuaneswar :
The miners have
opposed the Odisha government's decision to collect stamp duty from mines
operating under deemed renewal.
“The miners are already
paying higher royalty and also the market condition is no so encouraging. In
these circumstances the new duty will put more pressures on the industry and
eventually no plant can afford this†said Rita Singh,CMD of MESCO steel.
Similarly, the Eastern Zone
Mining Associaton(EZMA) has also opposed the move by the state government. “The
decision of the State government will cripple the mining industry “said Prabodh
Mohanty,Spokesperson of EZMA.
The Odisha government has
decided to collect stamp duty from the mines operating under deemed extension.
In a notification the revenue department has asked the miners to submit the
stamp duty by July 9.
The state revenue and disaster management
department has issued notification for implementation of the amended provision
of Indian Stamp (Odisha Amendment)
Act, 2013, which is expected to increase revenue from the mining sector by Rs 1,000 crore per annum.
The act, which was passed in the last assembly
session, enables the government to collect stamp duty from mines operated under
deemed extension clause of Mineral Concession Rules (MCR), 1960, pending renewal of the lease period.
The stamp duty charges were being collected
during renewal of mining lease based on preliminary expenses, security
deposits, surface rent along with highest amount of dead rent or royalty
charged on the mineral excavated. Through the amendment in the Act, the state
government has prescribed for levying 15 per cent stamp duty on mining leases
in future as well as for preceding period from the mines operating under the
deemed extension.
Reported by Tapan Moharana
Leave a Reply