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Which mining company will make the largest payment in past mineral tax dues by the end of 2024?
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Supreme Court Allows States to Recover Mineral Tax Dues from April 1, 2005, Over 12 Years
Aug 14, 2024, 05:57 AM
The Supreme Court of India has clarified that states can recover past tax dues on mineral rights from April 1, 2005, onwards. This decision comes after rejecting pleas from the Centre and assessees to apply the court's July 25 judgment, which upheld the power of State Legislatures to tax mines and mineral rights, only prospectively. The court's ruling mandates that mining companies make payments to states over the next 12 years, benefiting states such as Jharkhand, Odisha, Chhattisgarh, and Rajasthan. This judgment provides a significant financial boost to these states through the recovery of past dues on mineral royalties.
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