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M/s Steel Authority of India Ltd. (AIR 1998 SC 3052), the Apex Court opined that Section 9(1) of the MMDR Act, 1957 also contemplates the levy of royalty on the mineral consumed by the holder of a mining lease in the leased area, hence processing of mineral amounts to consumption and, therefore, the entire mineral is eligible to levy of royalty.
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The case cited by Sucheta in the matter of Navinon Ltd. (2004 -TMI - 156 - CESTAT, MUMBAI) is appliable for the period prior to 10.9.2004. With the introduction of IPR category w.e.f. 10.9.2004, service tax is payable on royalty from Intellectual Property servcies. Allowing use of Know how is IPR activity.
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Since the Government of India received information about the rampant exploitation of natural resources in Iron Ore mining sector in the State of Goa, it appointed Justice M.B. Shah, a former judge of this Court, as a Commission of Inquiry under Section 3 of the Commissions of Inquiry Act,
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In an attempt to compensate states for complementary investments in iron production and to curb illegal mining, the state introduced a 10% ad valorem tax in August 2009. The introduction of the new royalty regime was followed by a 10-fold increase in the royalty collections of the affected states. The new iron ore royalties contributed up to 5% of
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Therefore, as of now, 'royalty' is tax, and the law should be applied as it is, until the nine-judge bench overrules the current position and lays down a different one. Service Tax Implications. Service tax in India was introduced by way of Finance Act, 1994, as a tax under Entry 97 of List I of Schedule VII of the Constitution.
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Steel Authority of India & Ors., (2011) 4 SCC 450. If the Supreme Court holds that mining royalty itself is tax/duty there would not be service tax again on mining royalty as the tax cannot be imposed on it. Further, once it is tax, it cannot be said to be a service simultaneously.
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A Supreme Court stay on payment of Goods & Services Tax for grant of mining lease/royalty on October 4 is likely to impact the telecom sector and casinos as well. This has been a contested segment ...
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Iluka's fourth pillar is the royalty received from BHP in regards to its Mining Area C (MAC) iron ore project in Western Australia's Pilbara region. The long-standing arrangement provides Iluka ...
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Figure 1.4: Receipt of Royalty & License Fees Royalty Payments by India With the increased FDI, it is expected that Indian firms would be using more and more improved technology for its growing industrial production and services. The increasing use of technology is linked the increased royalty and license fees payments by the business firms.
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Effective tax rate (ETR) on mining in India is 64%, while the global average is 34-38 %. ... most mechanised mines are compelled to pay royalty at the rate charged for the highest grade of the ore ...
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6.4 As already discussed M/s NMDC is India's largest iron ore producer, engaged in mining iron ore operating from three fully mechanized mines located in the State of Chhattisgarh and Karnataka. It is for mining that they have been allotted the said mines by the State of Chhattisgarh and for which they have to pay the royalty.
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Iluka said on Thursday that it was considering a demerger of the royalty it earns from BHP's Mining Area C ... South Flank iron ore mine in ... tax implications of demerging the MAC royalty and ...
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Mining is an important economic activity in India. India is one of the largest exporters of iron ore, chromite, bauxite, mica and manganese, and …
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The monthly average Iron ore sales price for different states and on All India basis is published by Indian Bureau of Mines (IBM) on its website. Administration of Royalty by IBM. Royalty is the payment of tax to the Government (owner of mineral) for the privilege granted for extraction and processing of minerals.
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PwC Corporate income taxes, mining royalties and other mining taxes—2012 update 5 Indonesia has tax incentives for specifi c mining activities such as basic iron and steel manufacturing, gold and silver processing, certain brass, aluminium, zinc and nickel processing activities and quarrying of certain metal and non-metal ores.
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Note: The rates of royalty for the State of West Bengal in respect of the minerals except the mineral specified against item number 11 shall remain the same as specified in the notification of the Government of India in the Ministry of Steel and Mines (Department of Mines) …
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In terms of Article 13 (2) of the India-UK DTAA, ' royalties' arising in India and paid to a UK resident can be taxed in India according to the laws of India, provided the tax charged does not exceed 15% (or 10% where payments is for use of industrial, commercial or scientific equipment) of the gross amount of such royalties.
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A mining rights holder is liable to pay either royalty or dead rent in respect of a mining area, whichever is higher. Dead rent is, therefore, meant to be paid when the mine is closed or is being ...
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Over the period of time, intangible property mainly, royalty and fees for technical services (FTS), has assumed enormous significance. Rapidly increasing global transactions in a technological advanced environment has made the revenue and the taxpayer both cautious about the related tax outflow.
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Government of India as per Section 9(3) of Mines and Minerals (Development and Regulation) Act, 1957. The government of India has notified a new royalty regime on August, 2009 according to which currently the royalty on iron ore is levied at the rate of 10% on ad valorem basis on the sale price.
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