Do we have a sense of what is the likely impact on Sandur for earlier years & also on regular basis annually?
In a setback for mining operators, the Supreme Court on Wednesday allowed states to collect past dues on royalty on mineral-bearing land from Centre, mining companies from April 1, 2005 onwards.
The decision came while Chief Justice of India (CJI) DY Chandrachud was pronouncing the verdict of the nine-judge constitution bench on whether its July 25 verdict upholding the power of states to levy tax on mineral rights and mineral-bearing land will have a retrospective or prospective effect.
It further stated that the payments have to be staggered in 12 years. The SC also directed states to not impose penalties or tax for past demands. “The time for payment of demand for tax shall be staggered in installments over a period of 12 years commencing from April 1, 2026,” it said.
Setback for mining operators, bonanza for states
Following the judgment, stock prices of Hindustan Zinc, NMDC, Coal India and SAIL slumped 3.2%, 3.6%, 1.9% and 1.5% respectively on BSE Sensex
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