India’s mining sector is facing a massive financial burden following a Supreme Court decision allowing states to collect royalty and tax on mineral-bearing land retrospectively from April 1, 2005. According to a report by The Times of India, this ruling could result in arrears amounting to Rs 1.5 trillion, dealing a significant blow to both public- and private-sector mining companies. Our Partner (Head – Taxation) S R Patnaik shares his views on this in an article published by Business Standard. (Photo Credit: Business Standard)
