Karnataka Introduces Bill to Tax Mines and Mining Land

20 Dec 2024 CW Team

In response to a recent Supreme Court ruling allowing state governments to impose taxes on minerals, the Karnataka government presented the Karnataka (Mineral Rights and Mineral Bearing Land) Tax Bill 2024 in the Assembly. This move is expected to generate over Rs 47 billion in additional revenue. Under the proposed legislation, tax will be payable by mining leaseholders at the time of dispatching minerals, with different tax rates applied based on the mine’s category. A uniform tax rate is suggested for mining leases within the same category, taking into account the current additional payments made by lessees. The Bill, which was cleared by the state cabinet earlier this month, comes after the Supreme Court’s August 2024 order permitting states to collect taxes on mineral-bearing land and mineral rights with retrospective effect from April 1, 2005. The ruling also waived interest and penalties on past dues before July 25, 2024. Leaseholders will be allowed to pay the taxes in installments over 12 years, starting from April 1, 2026. The Bill categorises mining leases into five groups based on the method of grant and additional payment conditions. These categories include leases granted through non-auction routes before 2015, those granted to public sector units before and after 2015, and those auctioned after 2015. The Bill also empowers the state government to set tax rates for mineral-bearing land and mineral rights, with retrospective implementation from 2005 and 2015, respectively. It includes provisions for mining companies to appeal tax determinations. According to the law, taxes will be paid by the leaseholder at the time of mineral dispatch, with a 12% simple interest charged on overdue payments. Of the total estimated revenue, Rs 42.07 billion is expected from mineral rights tax, and Rs 5.05 billion will be raised from taxes on mineral-bearing land. (Indian Express)

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..