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CII asks Centre to look into additional tax being charged on minerals

CII cited the provisions of the Mines and Minerals (Development and Regulations)Act under which the mining leases in India for both coal and non-coal are granted and governed

Wait for latest tenders to auction coal blocks likely to get longer

It asked the government that the ex-mine price should exclude all the costs incurred outside the mine area

Shreya Jai New Delhi
The mining industry has asked the Centre to address the issue of additional tax being charged by the Indian Bureau of Mines (IBM) on non-coal minerals. 

In a letter to the ministry of mines, the Confederation of Indian Industry (CII) has said that an average additional amount of about 20 per cent is being charged over and above the applicable charges of mineral mines. The CII said these charges pertained to royalty, premium, district mineral fu­nd (DMF), and the National Mineral Exploration Trust (NMET). 

The Bureau arrives at the average sale prices for different grades of minerals, other than coal, based on

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First Published: Jul 27 2020 | 7:28 PM IST

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