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Stamp duty on mining lease to go up

The State Cabinet approved insertion of a new section in the Indian Stamp Act for charging stamp duty on mining leases on the highest annual extraction permitted under the approved mining plan.

Published: 15th March 2013 11:15 AM  |   Last Updated: 15th March 2013 11:15 AM   |  A+A-

mining_EPS

The State Cabinet on Thursday approved the Revenue Department proposal for amendment of the Indian Stamp Act, 1899 to change stamp duty on mining leases. The amendment will enable the Government to charge 15 percent stamp duty on the royalty accrued out of highest annual extraction of mineral permitted under the mining plan to the lessees at the time of registration of the leased land.

The Cabinet approved insertion of a new section in the Indian Stamp Act for charging stamp duty on mining leases on the highest annual extraction permitted under the approved mining plan. The new stamp duty will be applicable on mining leases which were due for renewal (either in operation or not working or under deemed extension) under the Mining Concession Rules, 1960.

The State Government will generate substantial amount of revenue from the lessees towards pending renewal of their applications, official sources said. The Cabinet meeting chaired by Chief Minister Naveen Patnaik passed 12 proposals including amendment of the Odisha Reservation (of Posts and Services) of Vacancies Act, 1975 for Scheduled Tribes and Scheduled Castes people.

The Cabinet also approved several amendments proposed by the Scheduled Tribes and Scheduled Castes Department as per the ruling of the High Court, Supreme Court and constitutional amendments made from time to time.

 As per the Cabinet decision, the ORV Act will not apply to those posts which are filled up in one department by redeployment of staff found surplus in another department. Reserve candidates who got appointment on merit will be counted against unreserved posts. This section of the Act which put a bar on exchange of posts between SC and ST was omitted. In case of direct recruitment, dereservation is permissible if reserve candidates were not available after three successive recruitments under special recruitment drive.

 Now there will be separate zone for consideration for SC candidates in case of promotion of Group-D to Group-C and within Group-C. The Opposition Congress on Monday staged a walkout protesting the State Government’s failure to bring the Odisha Reservation of vacancies (in the posts and services) Act amendment Bill.

 Five members of the Congress sat in dharna in the well of the House protesting the delay in introducing the proposed amendment Bill. SC/ST Development Minister LB Himirika  had assured the Assembly that the proposed Bill will be taken up by the Cabinet soon.

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