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Web Exclusive | July 2013

Odisha miners file petition at HC

Several mining and steel companies filed a petition with the Odisha High Court seeking to quash the Indian Stamp (Odisha Amendment) Act, 2013.

The act authorises Odisha government to collect stamp duty on lapsed mining leases, currently operating under deemed extension clause of Mining Concession Rule, 1960.

The filing of petition follows the decision by the state government not to permit mining by firms operating under deemed extension clause of Mining Concession Rule unless they pay stamp duty.

Some of the major private players that filed the petition include Tata Steel, Tetro Mines, EMIL, Rungta Mines, Jindal group and mining lobby body Federation of Indian Mineral Industries (FIMI).

East Zone Miners Association spokesperson Prabodh Mohanty said the total levy burden on the miners, if the order is implemented, would come to about Rs 50,000 crore.

The amended stamp duty effective from May 10, 2013, asks for 15 percent of the average royalty calculated on highest annual production by the entity, multiplied by the life of the lease (usually 20-30 years). Also the new levy is payable upfront.

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