Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: TDS :: ACCOUNTING STANDARDS :: empanelment :: articles on VAT and GST in India :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt
« VAT (Value Added Tax) »
 VAT exemption stays in tax reform bill
 Income Tax Appellate Tribunal Bangalore Banches Bangalore 'A' Bench DB Case Causelist for The Week from 22-05-2017 To 25-05-2017
 Amendments in Second schedule appended to Delhi Value Added Tax Act, 2004
 Haryana govt exempts solar devices from VAT net
 Court rules out VAT on Paradise equity transfer
 VAT gone but riddle of derivatives traded on commodity exchanges lives on
 Rule 2(L) Of Cenvat Credit Rules, 2004 Amended
 Haryana govt exempts solar equipment from VAT
 AP to push for same benefits under GST for VAT exempted goods
 Andhra Pradesh to push for same benefits under GST for VAT exempted goods
 Petrol prices set to rise in Goa with increase in VAT

Odisha unable to realise tax from mining companies: Minister
August, 27th 2013

Expressing its inability to fully realise tax from mining firms, Odisha government today said it could collect Rs 10 crore as VAT against demand of Rs 397.12 crore and Rs 3 crore against demand of Rs 99.28 crore as entry tax during between April 1, 2008 to March 31, 2011.

"The state government could not realise tax from the mining companies as they managed to get court orders," state Finance Minister Prasanna Acharya said while replying to a question in the assembly.

Congress MLA Naba Kishore Das during the question hour sought a clarification from the government on steps taken against lessees those were responsible for reduced value added tax (VAT) collection for the state government.

"Iron ore are being sold by Sarada Mines at only Rs 237 per tonne compared to Rs 1727 a tonne of Odisha Mining Corporation (OMC) and Rs 2060 per tonne of Odisha Minerals Development Company (OMDC). The state is losing by way of lesser VAT collection due to under pricing of the ore", Das said.

Stating that it was IBM (Indian Bureau of Mines) and not the state government which determined base of the sale price of ores, Acharya said the notice had been issued certain mines including Sarada Mines for violation of Rule-37 of Mineral Concession Rules- 1960.

The lessee was allegedly selling the entire run-of-mine (ROM) produce from its Thakurani mines in Keonjhar district to Jindal Steel & Power Ltd (JSPL) without any agreement. The notice was served on the lessee on the basis of a five-member panel of steel and mines department that had held the leaseholder guilty of the violation, official sources said.

The five-member committee headed by P C Patra, deputy director of mines (Bhubaneswar) said the major benefit of the mine is flowing to JSPL. The present arrangement of selling ROM to JSPL by Sarada Mines amounts to transferring the interest in the mining lease to the steel company as per provisions of Rule 37 of MCR-1960, the report stated.

The minister said the state government was probing into tax payments of mining companies if it suspected their activities.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions