Goa to amend Stamp Duty Act; mine owners to pay
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Last Updated: Friday, August 03, 2012, 21:54
  
Panaji: Goa government on Friday introduced a bill in the legislative assembly that would compel the mine owners to pay stamp duty at the time of renewal of mining leases.

Chief Minister Manohar Parrikar introduced the 'Indian Stamp (Goa Amendment) Bill, 2012' in the House.

Accordingly, the stamp duty would be equal to 15 per cent of the total amount of royalty that would be payable to the state for the next 20 years.

The mining lease would be permitted only if environmental clearances are in place.

There are 337 mining leases in Goa. "These leases expired on November 21, 2007. Prior to the expiry, the lessees had submitted their applications for renewal or extension for further term of 20 years," the statement of objects of the bill says.

Due to various reasons, Parrikar said Goa government could not execute the new lease deeds till now. Stamp duty was not charged on lease renewal in the past.

PTI


First Published: Friday, August 03, 2012, 21:54


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