Mining industry hopes it won’t be taxed further
With the chief minister set to present the budget on Monday, the mining industry in Goa hoped that no additional taxes are levied on it, a press release by the Goa mineral ore exporters association (GMOEA) said.
The mining industry hoped for increased improvement of infrastructure, especially roads, within the mining belt, as well as improvements in inland waterways coupled with bunkering facilities along major waterways, as this would boost growth of other sectors, apart from mining. Certain fiscal amendments like corrections on e-filing, VAT for declared goods, entry tax on ships and other vessels, etc, need to be looked into, the press release said.
The GMOEA reminded that the mining industry in India, especially iron ores, is possibly the highest taxed sector, with over 50% of its earnings being paid back as taxes to the central and state governments. It also claimed that the mining industry in Goa is reeling under pressure of the current suspension orders on mining, as all revenues have stopped ever since operations were suspended nearly six months ago.
The industry is hopeful for an early hearing in the matter in the Supreme Court so that the issues relating to resumption of operations are urgently addressed, and this would bring relief to all the stakeholders, including government, the GMOEA press release stated. [TOI]