Royalty is not a payment in respect of any taxable service at all and it is imposed under Section 9 of the Mines and Minerals (Development and Regulation) Act, 1957 (hereinafter referred to as the 'Act') in respect of any mineral "removed or consumed" by the holder of a mining lease from the leased area, at the rate specified in the ...
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With the Supreme Court categorically ruling that mining rights are not subject to service tax, mining companies can now operate with greater certainty regarding their tax liabilities.
WhatsApp: +86 18221755073
With effect from 1'st April'2016 amendments have been made to levy of Service Tax on Royalty under Reverse Charge Mechanism, on the Services provided by Government to business …
WhatsApp: +86 18221755073
> The mining companies may attract service tax for the services relevant to the mining industry such as exploration, mineral production, handling, transportation etc. A …
WhatsApp: +86 18221755073
Even assuming that royalty paid is not in the nature of tax, levy of service tax on the royalty amounts paid towards extraction of minerals cannot be considered as activity for consideration to come under the ambit of service.
WhatsApp: +86 18221755073
The Supreme Court's recent ruling has affirmed that states retain the right to tax mineral rights unless restricted by Parliament, with statutory limitations under Entry 50 of List 2 not affecting state taxation.
WhatsApp: +86 18221755073
Even assuming that royalty paid is not in the nature of tax, levy of service tax on the royalty amounts paid towards extraction of minerals cannot be considered as activity for consideration to come under the ambit of service.
WhatsApp: +86 18221755073
service tax paid on services acquired for use as inputs to mining. The non-deductible input taxes get embedded in the cost of the mineral supply, resulting in tax cascading and other economic efficiencies.
WhatsApp: +86 18221755073
Service tax has been imposed on Mining Services i.e., services outsourced for mining of minerals, oil or gas by the Finance Act, 2007 as a separate taxable service with effect from a 1st June, 2007 vide Notification No. 23/2007-ST dated 22.05.2007.
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> The mining companies may attract service tax for the services relevant to the mining industry such as exploration, mineral production, handling, transportation etc. A manufacturer and/or service provider paying service tax on procurement of services are allowed to take credit of same and it is set off against.
WhatsApp: +86 18221755073
Service tax has been imposed on Mining Services i.e., services outsourced for mining of minerals, oil or gas by the Finance Act, 2007 as a separate taxable service with …
WhatsApp: +86 18221755073
Since the transfer of immovable property is not subject to service tax, any payments made for acquiring mining rights, which include the right to explore and extract minerals, should not...
WhatsApp: +86 18221755073
Royalty is not a payment in respect of any taxable service at all and it is imposed under Section 9 of the Mines and Minerals (Development and Regulation) Act, 1957 …
WhatsApp: +86 18221755073
With the Supreme Court categorically ruling that mining rights are not subject to service tax, mining companies can now operate with greater certainty regarding their tax …
WhatsApp: +86 18221755073
Since the transfer of immovable property is not subject to service tax, any payments made for acquiring mining rights, which include the right to explore and extract …
WhatsApp: +86 18221755073
With effect from 1'st April'2016 amendments have been made to levy of Service Tax on Royalty under Reverse Charge Mechanism, on the Services provided by Government to business entities to bring leasing of Natural Resources like Mining etc. in the Service Tax net.
WhatsApp: +86 18221755073
Mining service– Scope[section 65(105)(zzzy)]- Presently, geological, geophysical or other prospecting, surface or sub-surface surveying or map-making services relating to location or exploration of deposits of minerals, oil or gas are leviable to service tax under "survey and exploration of mineral service' [section 65(1050(zzv)] services ...
WhatsApp: +86 18221755073
Mining service– Scope[section 65(105)(zzzy)]- Presently, geological, geophysical or other prospecting, surface or sub-surface surveying or map-making services relating to location or exploration of deposits of minerals, oil or gas are leviable to service tax under "survey and …
WhatsApp: +86 18221755073
service tax paid on services acquired for use as inputs to mining. The non-deductible input taxes get embedded in the cost of the mineral supply, resulting in tax cascading and other economic …
WhatsApp: +86 18221755073
The Supreme Court's recent ruling has affirmed that states retain the right to tax mineral rights unless restricted by Parliament, with statutory limitations under Entry 50 of List 2 not affecting …
WhatsApp: +86 18221755073