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Mining industry pushes for single GST to supersede multiple levies

Royalty rates on minerals are the highest among resource-rich nations and a cocktail of levies makes India top the list of nations with steep effective taxation rate on mining

Topics
Gst On Mining  |  Gst  |  Goods And Services Tax

Jayajit Dash  |  Bhubaneswar 

The country’s mining sector, distressed by a multitude of levies like royalty and contributions to the District Mineral Foundation (DMF) and National Mineral Exploration Trust (NMET), has advocated a uniform Goods & Services Tax (GST) to overcome the multiplicity of taxes.

Royalty rates on minerals in the country are the highest among resource-rich nations and a cocktail of levies makes India top the list of nations with steep effective taxation rate (ETR) on mining. The cumulative effect of royalty, DMF and NMET amounts to 19.8 per cent of the IBM (Indian Bureau of Mines) ...

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First Published: Sat, January 12 2019. 18:27 IST
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