Lease, cess and other taxes on minerals validation act, 1992, 1992, cess. Act, 1957 mmdr act, 1957 various rules have been framed by the goi and the state government from time to time. Be it enacted by parliament in the sixty fifth year of the republic of india as follows. Be it enacted by parliament in the sixtysixth year of the republic of india as follows. Presentation on working group for twelfth plan on mineral. You can find information related tenders, notices, latest updates pertaining to ministry of coal, government of india. Allocation of payments part d 10 deferral ofpayment 167. Mineral conservation and development amendment rules 2011. Any rent, royalty, tax, cess, fee or other sum due to the government either under this act or any rule made thereunder or under the terms and. Development and regulation bill 2011 the mmdr bill, which is aimed at replacing the existing mines and minerals development and regulation act 1957 mmdr act. An act to repeal certain enactments and to amend certain other enactments. Act and rules to apply to all renewals of prospecting licences and mining leases.
The amendment removed discretion by instituting auction to be the sole method of grant of major mineral concessions and, thereby bringing in greater transparency. The new act supports the use of taxation as a tool for income redistribution and wealth creation by imposing lower tax burden on low income earners and higher tax burden on the higher income earners. Mmdr act amendments latest breaking news, pictures, videos, and special reports from the economic times. Collection of cess on limestone at prescribed rate. Payment of tax pending objection or appeal part c taxpayer account and allocation of payments 165. Mmdr act 1957, mc rules 1960, mineral evidence rule 2015, mineral auction rule 2015 in case of major minerals. Short title this act may be called the repealing and amending second act, 2015. The mines and minerals development and regulation act, 1957, regulates the mining industry in india and specifies the requirement for obtaining and granting mining leases for mining operations.
Highlights of the bill1 context the mines and minerals development and regulation act, 1957 provides the legal framework for the regulation of mines and the grant of different permits and licences for exploration and exploitation of minerals except petroleum and natural gas. This act may be cited as the mines and minerals development act, 2015, and shall come into operation on 1st july, 2015. The mines and minerals development and regulation act, 1957. It details the process and conditions for acquiring. Commercial tax department, government of uttarakhand, india. This is the official website of coal ministry, government of india. For example, the draft mines and minerals development and regulation mmdr bill 2011 which, if approved by parliament, will replace mmdr act 1957 as the countrys main mining law contains a number of provisions seeking to create new institutional mechanisms for addressing the problem of illegal mining. Many employers are yet to commence implementation while some. This act is applicable to all mineral except minor minerals and atomic minerals. This act forms the basic framework of mining regulation in india. Energy and natural resources multijurisdictional guide.
Mineral conservation and development rules, 1988 as amended up to 2nd august, 2011 2011. Working group for twelfth plan on mineral exploration and development august 2011. The bill had been passed by the lok sabha on march 20th which replaced the ordinance and the new mmdr amendment act. Mineral conservation and development rules, 1988 as amended up to 2nd august, 2011. Be it enacted by parliament in the eighth year of the republic of india as follows. The mines and mineral development and regulation amendment act, 2015 was passed by parliament during the recently concluded budget session.
Collection of royalty on coal and limestone at rates as prescribed by the goi from time to time. Draft mmdr bill, 2011 the mmdr bill 2011 is a major attempt to bridge the gap between the need for mining on one hand and the need to address and internalise the social and environmental costs of mining on the other. Act to provide for the effective and efficient collection of tax. European union mandatory disclosure rules mdr in gl kpmg. Acts and notifications ministry of coal, government of india.
Determination of time and manner of payment of tax 163. An act to provide for the 1 development and regulation of mines and minerals under the control of the union. Since 2011 the notional return is calculated as the amount of increase. Bill mmdr, 2011 to replace mines and minerals development and regulation act mmdr 1957development and regulation act mmdr, 1957. Power of state governments to make rules in respect of minor minerals. Lease, mineral conservation and development amendment rules 2011. Draft mines and minerals development and regulation bill, 2011. The right of people to benefit from the mineralrich lands. Preestablishment no objection certificate licenses s no. Mmdr act amendments blogs, comments and archive news on. Mmdr rules to retain 2 stage auction model the government is unlikely to accede to the industrys demand for doing away with the twostage auction model.
Major cut down in share of money that leaseholders will pay to the dmf not exceeding onethird of the royalty paid for respective minerals. The act also supports governments intention to implement a shift in focus from direct to indirect taxation. Section 21 in the mines and minerals development and. The stand alone report for the year ended 31 march 2011 featuring the performance audit on assessment, levy and collection of revenue from.
The bill had been passed by the lok sabha on march 20th which replaced the ordinance and the new mmdr amendment act, 2015 would be considered effective from january 2015. The mines and minerals development and regulation mmdr act, 1957 enacted by the central government, lays. Mines and minerals development and regulation act 1957. It is further submitted that the petitioner had entered into a joint venture agreement on 16. The upper house of parliament on friday passed the controversial mining bill, which is perceived as antipeople and prominers. This bill was cleared by the union cabinet of india in september 2011. For meaning of the term assessee, see taxmanns direct taxes manual, vol. The provision ofthe mmdr act, 1957, mc rules, 1960 and mmc act, 1988 require levy and payment of. Draft mmdr act 2011 draft report of hpc on ibm 2011.
Lease, amendment in part b of the 1st schedule to the mmdr act, 1957, 2016. Interest at prescribed rate for default in payment of dues. Printed and published by the federal government printer. Important changes proposed in mmdr2010 ad valorem tax. By taiwo oyedele the personal income tax amendment act 2011 was officially gazetted on tuesday 31 january 2012 with an effective date of 14 june 2011. Tax policies in the european union european commission. Short title amendments 12 3 4 1961 43 the incometax act, 1961 in section 54ga, in the explanation to subsection 1, in clause a, after the word,brackets, letters clause za, the wordsand figure of section 2 shall be inserted. Important changes proposed in mmdr2010 free download as powerpoint presentation. The mandatory reporting of certain crossborder tax arrangements for employees is. Up taxation and land revenue laws act1975,adoption and modification order. Now, after the coming into force of the provisions of the rules made by the government of kerala under section 23c of the mmdr act, identical situations can be dealt with under these rules, and the provisions of the mmdr act dealing with seizure, prosecution or punishment etc. The mines and minerals development and regulation amendment bill, 2015 a bill further to amend the mines and minerals development and regulation act, 1957.
The mines and minerals regulation and development act 1957 is an act of the parliament of india enacted to regulate the mining sector in india. To simplify the act, dtc 2010 was first introduced in august 2010 in the parliament. The act specifies the requirement for obtaining and granting mining leases for minerals and streamlines a number of provisions related to this. Allocation of payments part d deferral of payment 167. Regulation amendment bill, 2014 a bill further to amend the mines and minerals development and regulation act, 1957. The 2015 amendment leaseholders are to pay not more than onethird of the royalty for all minerals, lowest limit however not. Any rule made under any provision of this act may provide that any contravention thereof shall be punishable 2with imprisonment for a term which may extend to one year, or with fine which may extend to five thousand rupees, or with both, and in the case of a continuing contravention, with an additional fine which may extend to 3five hundered rupees for every day during which such. Agm annual general meeting mat minimum alternate tax aoa articles of association mmdr act mines and mineral development and. The estimated current liability of mine closure of the operating mines to the company was worked out to rs.
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