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Will Supreme Court's verdict on mineral tax be applied prospectively by end of 2024?
2
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcement by the Supreme Court or related government notification
Story
Supreme Court 8:1 Verdict: States Can Tax Mines and Minerals, Royalty Not Tax
Jul 25, 2024, 06:27 AM
The Supreme Court, in an 8:1 majority verdict by a nine-judge Constitution bench, has ruled that states have the legislative competence to levy taxes on mines and minerals bearing lands under the Constitution. Chief Justice DY Chandrachud, along with seven other justices, concluded that the Parliament does not have the power to tax mineral rights. The court also held that royalty payable on minerals under the Mines and Minerals (Development and Regulation) Act, 1957, is not a tax but a form of contractual payment. This decision overturns a 1989 verdict by a seven-judge Constitution bench, which had held that royalty on minerals is a tax. The Centre has urged the Supreme Court to make the verdict prospective. This ruling is seen as a setback for miners.
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Yes • 50%
No • 50%
In favor of the Centre • 33%
In favor of the states • 33%
Partial refund • 34%
Appeal the decision • 25%
Introduce new legislation • 25%
Negotiate with states • 25%
Take no action • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Significant increase • 25%
Moderate increase • 25%
No significant change • 25%
Decrease • 25%
Yes • 50%
No • 50%
In favor of Adani Ports • 33%
In favor of Gujarat government • 33%
Settlement reached • 34%