iron ore royalty and excise duty

WA at risk of losing millions in iron ore mining fees if ...

Oct 27, 2016· The iron ore production rental levy was introduced in WA State Agreements with major iron ore miners in the 1960s ... "The concern with the production rental levy is that it's really an excise ...

The Iron Ore Mines, Manganese Ore Mines and Chrome Ore ...

At the close of each month the duty of excise, levied under section 3, payable by the owner of the mine to the Central Government on the iron ore, 2[or manganese ore or, as the case may be, chrome ore] used by such owner during the month, in any metallurgical factory shall be calculated and recorded in the register maintained under clause (a).

Ukraine - Corporate - Other taxes - PwC

Mar 01, 2021· Excise taxes. Excise tax applies to certain goods imported to or produced in Ukraine. ... Specific rules apply in determining the selling prices for extraction of oil, condensate, natural gas, and iron ore. ... There is a number of the tax draft laws proposing changes to the set royalty regime (iron ore extraction activities mostly).

Auction Catalog Report - MSTC Limited

Qnty. 20000 (+ /- 10%) MT in lots of 4000 MT. Type of ore High Grade Iron Ore Fines. Bidding basis concerned stack pile (N/FP/21/V/2F). Vyasankere Iron Ore Mines, Hospet ML No. 2416 (Excise Duty of 6.678% is part of the price and MSPL Ltd., will issue excise invoice to the buyer).

Taxman To Go After Illegal Miners To Check GST Evasion

Jan 17, 2019· Whether the customs duty and GST were collected on export, purchase or sale of legally mined minerals made through monitoring committee in the GST regime. In the pre-GST regime: Central excise was levied on concentrated iron ore. Service tax on payments made for leasing rights. Customs duty on export of iron ore.

Classification of Royalty Payment & GST Rate applicable on ...

4.1 The applicant submitted that services provided by the State Government by way licensing services for extraction of iron ore is a 'Supply' for which royalty payable is a consideration and the GST payable on the same is to be discharged by the applicant under Reverse Charge Mechanism in accordance with the provisions of Section 9(3) of ...

State Government Mining Royalties: Requited Taxes or ...

To the extent that a royalty payment secures access to the particular resource, by which I mean the extraction of raw materials [ores], it is requited and therefore not a duty of excise. However to the extent that a payment taxes a step in the production of a good from the raw materials it could be argued that the payment constitutes a duty of ...

MPs move to ban export of local iron ore - The Standard

Mar 22, 2021· The Excise Duty (Amendment) Bill, 2021 seeks to include the mineral in the list of goods prohibited for export to protect local firms. ... Iron ore is a key ingredient in steel-making and its ...

Mineral Royalties

It applies one of three royalty rates depending on the form in which the mineral is sold (ore, concentrate or final form), and the extent to which it is processed. Specific rate royalties, calculated at a rate per tonne of production, generally apply under the Mining Regulations 1981 to low value construction and industrial minerals.

Taxation based on Profit, rather than Royalty Will Spell ...

This will be collected in two ways: as an excise duty on indigenous consumption of ore; or as a custom duty in case the ore is exported. Also, there would be a State Cess (U/S 44(1) at a rate not exceeding 10 per cent of the royalty. Imposing both Central & State Cess will …

Economic Impact of Export Restrictions and Iron Ore ...

Oct 26, 2011· The government stands to lose about INR 10,000 crore (US $2.08 billion) as these industries pay excise duty, royalty and value added tax, and commercial banks could suffer an …

iran excise rule in iron ore mines - afirmacjezycia.pl

Apr 22, 2020 The Custom, Excise, and Service Tax Appellate Tribunal CESTAT has recently held that the activities of transportation of iron ore being one of the conditions in the contract with the raising contractors, who do not issue any documentconsignment note, cannot be treated as GTA services, as defined under Sec.65105zzp read with Sec.6550b of the Finance Act,1994.

Mineral Royalties

It applies one of three royalty rates depending on the form in which the mineral is sold (ore, concentrate or final form), and the extent to which it is processed. Specific rate royalties, calculated at a rate per tonne of production, generally apply under the Mining Regulations 1981 to …

Heady climb for cement - cemnet.com

Feb 08, 2006· Hence, it is asking for lower excise duty and paring down of other levies, which have a cumulative incidence of around 30 per cent of the sale price for a bag of cement currently. ... The industry has demanded that the anomaly of royalty on cement grade limestone and iron ore be corrected by lowering the royalty on limestone and a set-off ...

Proposed WA iron ore tax could cost thousands of jobs ...

Nov 14, 2016· The Deloitte report, WA Iron Ore Royalty Analysis, ... [i.e. tax] "is really an excise duty dressed up as a levy and if the High Court held that that was the case, ...

WELCOME [mines.gov.in]

iron ore deposits of about 2.16 billion tonnes and this sector produced more than 43 million tonnes of iron ore in 2009‐10. Since, there are a very few large user industries (steel mills), due to water and power shortages, most of the iron ore is exported.

83 Chargeability of Excise Duty Excise duty is levied on ...

8.3 Chargeability of Excise Duty Excise duty is levied on production of goods but the liability of excise duty arises only on removal of goods from the place of storage, i.e., factory or warehouse. Excise duty is levied even if the duty was paid on the raw material used in production. Excise duty is levied on government undertakings also, for example, Railways is liable to duty on the goods ...

APPENDIX - IV CESS ON IRON ORE

Chrome Ore Mines Labour Welfare Cess Act, 1976(No. 55 of 1976), the Central Government hereby fixes, with effect from 1st August, 1990, the rate of one rupee per metric tonne as the rate at which the duty of excise and duty of customs on all iron ore produced …

Mining reform: What the government got right... - The ...

For instance, Indian iron-ore miners are one of the highest royalty payers in the world as compared to other major iron-ore producing countries. Iron ore in India attracts royalty of 15%, while ...

Royalty paid in respect of mining lease provided by Govt ...

It extracts iron ore from fully mechanized mines provided by the Government of Chhattisgarh on lease. The applicant is liable to pay royalty in respect of mining lease under "Licensing services" for the right to use minerals including its exploration and evaluation.

Internal Revenue Service

An ore is a mineral or combination of minerals from which useful substances, such as metals, can be economically recovered. The naturally occurring substances are usually divided into metalliferous ores such as gold, iron, and copper, and non-metalliferous ores such as coal, quartz, and bauxite.

Customs India Online

Circular No. 04/2012-Custom. Subject: Adoption of uniform Customs Procedure for calculating the contents of Iron Ore – clarification regarding. Several references have been received in the Board highlighting divergent practices for calculation of iron contents from Iron Ore being followed at different Ports for charging Export duty.

The Recently Imposed Five Percent Export Duty on Iron Ore ...

Mar 06, 2014· The Recently Imposed Five Percent Export Duty on Iron Ore Pellets Mar 6, 2014. ... India's Central Board of Excise and Customs under the Ministry of Finance issued a notification dated January 27, 2014, stating that a five percent export tax has been imposed on iron ore pellets, with immediate effect.

CHAPTER 93 MINERAL LANDS - Minnesota

Subdivision 1.Duty to maintain mine.Legal authority to mine and process iron ore, a basic irreplaceable natural resource of the people of the state of Minnesota, is subject to the conditions of this section. When the owner or operator of an iron mine or related production or …

26011140 - Iron ore fines (below 62% fe) Central Excise ...

Jul 29, 2021· 26011140 - Iron ore fines (below 62% fe) Search updated Central Excise Duty and Tariff of Years 2009, 2008, 2007 and 2006. Details of Modvat and cenvat.

Auction Catalog Report - MSTC Limited

LOT Name :Iron ore High Grade fines : Qnty. 20000 (+ /- 10%) MT in lots of 4000 MT. Type of ore High Grade Iron Ore Fines. Bidding basis concerned stack pile (N/FP/21/L/1F). Vyasankere Iron Ore Mines, Hospet ML No. 2416 (Excise Duty of 6.678% is part of the price and MSPL Ltd., will issue excise invoice to …

Corporate income taxes, mining royalties and other mining ...

royalty collection base. Tanzania introduced a new Mining Act during 2010 which changed (a) the base on which royalties are charged and (b) the royalty rates. In terms of tax base, the "gross value" replaced the earlier "net back value" applied under the prior law. Royalty …

Sec. 93.20 MN Statutes

Assuming that the royalty rate for the lowest grade of ore, with analysis 25.49 percent or less, is 18 cents per ton, the rate will be 18.9 cents per ton for all dried iron analyses higher than 25.49 percent but less than 26.50 percent; 19.85 cents per ton for all dried iron analyses higher than 26.49 percent but less than 27.50 percent; and so ...