Iron Ore Royalty And Excise Duty

Excise duty on iron ore [Resolved] - CAclubindia

Aug 23, 2011  25 August 2011 Iunderstand that it will be charged as per the tariff rate but as per 4/2006 iron ore is exmpted from excise duty so please tell me wheather there is any excise duty on iron ore

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26011130 - Iron ore fines (62% fe or more) Central Excise Duty

Jan 21, 2021  26011130 - Iron ore fines (62% fe or more) Search updated Central Excise Duty and Tariff of Years 2009, 2008, 2007 and 2006. Details of Modvat and cenvat.

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Royalty on Iron ore -An overview with a special reference to

Panchayat tax) and stamp duty. The royalty is a variable return and it varies with the quantity of minerals extracted or removed. Royalty in strict sense and ... Karnataka and Goa due to new rate of iron ore royalty. The state-wise revenue accrual by way of royalty for iron ore

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Proposed WA iron ore tax could cost thousands of jobs -

Nov 14, 2016  The Deloitte report, WA Iron Ore Royalty Analysis, ... [i.e. tax] “is really an excise duty dressed up as a levy and if the High Court held that that was the case, ...

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The Iron Ore Mines, Manganese Ore Mines and Chrome Ore

The amount of excise duty payable by the owner of a mine, where the iron ore or the manganese ore 1[or chrome ore] is used by such owner in any metallurgical factory under clause (b) of sub-section (2) of section 4 of the Act shall be paid by him by sending crossed cheque/crossed demand draft to the Cess Commissioner concerned drawn in his ...

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Internal Revenue Service

An ore is a mineral or combination of minerals from which useful substances, such as metals, can be economically recovered. The naturally occurring substances are usually divided into metalliferous ores such as gold, iron, and copper, and non-metalliferous ores such as coal, quartz, and bauxite.

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The Iron Ore Mines, Manganese Ore Mines and Chrome Ore

The amount of excise duty payable by the owner of a mine, where the iron ore or the manganese ore 1[or chrome ore] is used by such owner in any metallurgical factory under clause (b) of sub-section (2) of section 4 of the Act shall be paid by him by sending crossed cheque/crossed demand draft to the Cess Commissioner concerned drawn in his ...

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Proposed WA iron ore tax could cost thousands of jobs - Australian Mining

Nov 14, 2016  The Deloitte report, WA Iron Ore Royalty Analysis, ... [i.e. tax] “is really an excise duty dressed up as a levy and if the High Court held that that was the case, ...

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Corporate income taxes, mining royalties and other mining

royalty collection base. Tanzania introduced a new Mining Act during 2010 which changed (a) the base on which royalties are charged and (b) the royalty rates. In terms of tax base, the “gross value” replaced the earlier “net back value” applied under the prior law. Royalty

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Customs India Online

Several references have been received in the Board highlighting divergent practices for calculation of iron contents from Iron Ore being followed at different Ports for charging Export duty. In this regard two types of calculation methods are being followed i.e. on the basis of Wet Metric Ton (WMT) and other on the basis of Dry Metric Ton (DMT).

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TCS on sale of Coal, Lignite, Iron ore - TaxGuru

Mar 16, 2012  Sir Please reply as same thing asked from you previously . coal purchase from coal india ltd.(gov.under taking) by e-auction deposit 1% TCS on coal value as a trader sale it in open market to any customers (they have no any confirmation of purchase like PAN OR 27C) by cash. in this position trader what to do. or trader is not liable to collect TCS from his buyers . thanking you kumar jai

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NMDC increases iron ore prices again - The Hindu

Dec 15, 2020  NMDC on Tuesday increased the price (per tonne) of iron ore lumps by ₹700 and fines by ₹500, the second upward revision this month and the

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Service Tax on Mining Royalty - TaxGuru

Nov 13, 2019  In terms of Notification No. 30/2012-ST dated 20.06.2012 read with amended Notification No. 7/2015-ST dated 01.03.2015 Central Government imposed the service tax on mining royalty under reverse charge. Under reverse charge, business houses have to pay Service Tax on the amount of mining royalty paid to the Government.

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Excise Tax Definition - investopedia

Apr 28, 2020  Excise taxes are taxes required on specific goods or services like fuel, tobacco, and alcohol. Excise taxes are primarily taxes that must be paid by businesses, usually increasing prices for ...

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ROYAL MALAYSIAN CUSTOMS

6.1.2 Customs duty paid or to be paid, if any; and 6.1.3 Excise duty paid or to be paid, if any. GST will be imposed on the aggregate value of 6.1.1, 6.1.2 and 6.1.3. 6.2 Value of supply for goods under the Warehousing Scheme If there is more than one supply (for imported goods) within a

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5% export duty on iron ore pellets; excise hiked on gutkha -

Jan 28, 2014  NEW DELHI: The government today imposed a five per cent export duty on iron pellets, a critical raw material for the steel industry, and raised excise duty on pan masala, gutkha and chewing tobacco. "Considering the domestic requirement of iron ore pellets, the Government has decided to impose an export duty of 5 per cent on iron ore pellets," the Finance Ministry said.

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Duty holds up ore exports from east zone - The Economic Times

Iron ore come in two forms — iron ore lumps (calibrated ore) and iron ore fines. Both the forms of iron ore are produced together. Out of every 100 tonnes of iron ore produced, 60 tonnes are fines and 40 tonnes are iron ore lumps, which are used by sponge iron and pig iron industry.

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central excise andVAT - SlideShare

Mar 07, 2013  The date of removal is relevant and the rate of• excise duty applicable on the date of removal shall be actual rate of excise• duty to be paid.• 19.2.2 RATES OF EXCISE DUTY• The basic rate of excise duty is 16% while in some cases there is a special duty• if 8% which makes the excise duty in those cases at 24%.

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Budget: Indian Cement sector seeks duty sops - Rediff Business

Jun 29, 2009  Royalty and VAT and Cenvat Credit on Limestone. The cement industry pays a royalty of Rs 45 per tonne of Limestone. This is much higher as compared to what the steel industry pays for iron ore, despite iron ore being a high value product. Thus the cement industry expects a reduction in royalty paid on limestone.

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Internal Revenue Service

An ore is a mineral or combination of minerals from which useful substances, such as metals, can be economically recovered. The naturally occurring substances are usually divided into metalliferous ores such as gold, iron, and copper, and non-metalliferous ores such as coal, quartz, and bauxite.

More

The Iron Ore Mines, Manganese Ore Mines and Chrome Ore

The amount of excise duty payable by the owner of a mine, where the iron ore or the manganese ore 1[or chrome ore] is used by such owner in any metallurgical factory under clause (b) of sub-section (2) of section 4 of the Act shall be paid by him by sending crossed cheque/crossed demand draft to the Cess Commissioner concerned drawn in his ...

More

Corporate income taxes, mining royalties and other mining

royalty collection base. Tanzania introduced a new Mining Act during 2010 which changed (a) the base on which royalties are charged and (b) the royalty rates. In terms of tax base, the “gross value” replaced the earlier “net back value” applied under the prior law. Royalty

More

Government removes export duty on iron ore pellets India

Jan 05, 2016  The government in 2014 had levied a 5 per cent export duty on iron ore pellets, which are value-added products of leftover material or low grade iron ore and are used in steel-making.

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Customs India Online

Several references have been received in the Board highlighting divergent practices for calculation of iron contents from Iron Ore being followed at different Ports for charging Export duty. In this regard two types of calculation methods are being followed i.e. on the basis of Wet Metric Ton (WMT) and other on the basis of Dry Metric Ton (DMT).

More

TCS on sale of Coal, Lignite, Iron ore - TaxGuru

Mar 16, 2012  Sir Please reply as same thing asked from you previously . coal purchase from coal india ltd.(gov.under taking) by e-auction deposit 1% TCS on coal value as a trader sale it in open market to any customers (they have no any confirmation of purchase like PAN OR 27C) by cash. in this position trader what to do. or trader is not liable to collect TCS from his buyers . thanking you kumar jai

More

Alloy steel: Benefits from cut in customs duties - Rediff

Mar 19, 2012  Alloy steel: Benefits from cut in customs duties. Basic Customs Duty is being reduced to 2.5 per cent for the equipments required for setting up or substantial expansion of iron ore

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central excise andVAT - SlideShare

Mar 07, 2013  The date of removal is relevant and the rate of• excise duty applicable on the date of removal shall be actual rate of excise• duty to be paid.• 19.2.2 RATES OF EXCISE DUTY• The basic rate of excise duty is 16% while in some cases there is a special duty• if 8% which makes the excise duty in those cases at 24%.

More

Excise Tax Definition - investopedia

Apr 28, 2020  Excise taxes are taxes required on specific goods or services like fuel, tobacco, and alcohol. Excise taxes are primarily taxes that must be paid by businesses, usually increasing prices for ...

More

ROYAL MALAYSIAN CUSTOMS

6.1.2 Customs duty paid or to be paid, if any; and 6.1.3 Excise duty paid or to be paid, if any. GST will be imposed on the aggregate value of 6.1.1, 6.1.2 and 6.1.3. 6.2 Value of supply for goods under the Warehousing Scheme If there is more than one supply (for imported goods) within a

More

Export duty on iron ore lumps, fines hiked to 30% - The Hindu

Mar 12, 2018  The Finance Ministry on Monday hiked the export duty on iron ore lumps and fines to 30 per cent, effective December 30, 2011. In the 2011-12 Budget, the Government had increased the export duty

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Duty holds up ore exports from east zone - The Economic Times

Mar 06, 2007  Iron ore come in two forms — iron ore lumps (calibrated ore) and iron ore fines. Both the forms of iron ore are produced together. Out of every 100 tonnes of iron ore produced, 60 tonnes are fines and 40 tonnes are iron ore lumps, which are used by sponge iron and pig iron industry.

More

Pan masala, gutka to cost more as govt raises duty - Times of

Jan 28, 2014  The government had earlier imposed an export duty of 30% on iron ore fines and lumps but decided to expand the ambit of the levy, citing the sharp rise in the export of pellets during April ...

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Formalities to export Ores, Slag and Ash

Export clearance formalities of Iron ore fines (below 62% Fe), Tips to exporters of Agglomerated iron ores. Processes to export Iron ore lumps (below 60% Fe, including black iron ore containing up to 10% Mn), Can I export parts of Iron ore pellets, Is export of Iron ore fines (62% Fe or more)permitted?, Export clearance procedures of Non ...

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