News & Media 16th Aug 2024
The ruling will lead to more costs being imposed on a primary sector like mining, which will make it “unviable”, stakeholders from the industry said at the sidelines of a mines ministry event on Wednesday. The Supreme Court order allowing states to collect past tax dues from mining companies could potentially impose a significant financial burden on them, given that it allows levying of tax on royalty payments from April 1, 2005 onwards.
Aggam Walia from Indian Express writes on this issue, “Mining tax dues: Ruling to have large financial impact on mining cos; ‘pass-on of costs may be inflationary” with expert comments from Gopal Mundhra.
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