“,”elements”:[]}],”thumb_big”:”https://etimg.etb2bimg.com/thumb/msid-117113264,imgsize-120530,width-1200,height=765,overlay-etauto/industry/steel-minister-kumaraswamy-calls-out-karnatakas-additional-taxes-on-mining-operations.jpg”,”thumb_small”:”https://etimg.etb2bimg.com/thumb/img-size-120530/117113264.cms?width=150&height=112″,”time”:”2025-01-10 13:59:14″,”is_live”:false,”prime_id”:0,”highlights”:[],”highlights_html”:””,”also_read_available”:false,”body”:”
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The additional taxes on mining operations levied by the Karnataka government will adversely affect the steel and mining sector, union steel minister H D Kumaraswamy said Thursday.
A statement from Kumaraswamy’s office said these issues were flagged during a meeting between him and union law minister Arjun Ram Meghwal.
“The heavy burden of these taxes and their negative impact on mining activities were key points of discussion during the meeting,” the statement said, adding that Karnataka was levying three times higher taxes compared with other parts of the country.
Kumaraswamy said India targets producing 300 million tonnes of steel annually by 2030. “With such aspirations in mind, it is crucial to address the bottlenecks in the mining and steel sectors,” he said.
ET reported last week that the Centre plans to hold consultations with states to device measures to prevent overburdening of mining operations amid concerns over unchecked taxation by state governments.
The move comes in the backdrop of a Supreme Court verdict allowing states to levy additional taxes on mining operations in their territory.
Following the decision, states such as Karnataka decided to impose fresh levies on mining operations, hoping to generate additional revenue of roughly INR 4,700 crore from the sector.
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”The heavy burden of these taxes and their negative impact on mining activities were key points of discussion during the meeting,” the statement said, adding that Karnataka was levying three times higher taxes compared with other parts of the country.
- Updated On Jan 10, 2025 at 02:01 PM IST
“>
The additional taxes on mining operations levied by the Karnataka government will adversely affect the steel and mining sector, union steel minister H D Kumaraswamy said Thursday.A statement from Kumaraswamy’s office said these issues were flagged during a meeting between him and union law minister Arjun Ram Meghwal.
“The heavy burden of these taxes and their negative impact on mining activities were key points of discussion during the meeting,” the statement said, adding that Karnataka was levying three times higher taxes compared with other parts of the country.
Kumaraswamy said India targets producing 300 million tonnes of steel annually by 2030. “With such aspirations in mind, it is crucial to address the bottlenecks in the mining and steel sectors,” he said.
ET reported last week that the Centre plans to hold consultations with states to device measures to prevent overburdening of mining operations amid concerns over unchecked taxation by state governments.
The move comes in the backdrop of a Supreme Court verdict allowing states to levy additional taxes on mining operations in their territory.
Following the decision, states such as Karnataka decided to impose fresh levies on mining operations, hoping to generate additional revenue of roughly INR 4,700 crore from the sector.
- Published On Jan 10, 2025 at 01:59 PM IST