SC: States can take royalty on minerals & tax mineral land
In a landmark verdict which will spell a double bonanza for mineral-rich states featuring low on the prosperity index, a nine-judge bench of Supreme Court, in a majority 8:1 verdict, ruled on Thursday that states can collect royalty, which is not a tax, on minerals extracted from their territories, and also impose additional tax on mineral-bearing land. Justice B V Nagarathna dissented and said only the Centre had the power to levy tax on minerals.
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Jul 25, 2024
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In a landmark verdict which will spell a double bonanza for mineral-rich states featuring low on the prosperity index, a nine-judge bench of Supreme Court, in a majority 8:1 verdict, ruled on Thursday that states can collect royalty, which is not a tax, on minerals extracted from their territories, and also impose additional tax on mineral-bearing land. Justice B V Nagarathna dissented and said only the Centre had the power to levy tax on minerals.
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