Webinar Recap

The Karnataka state government has introduced the Karnataka (Mineral Rights and Mineral Bearing Land) Tax Bill, 2024, in response to a landmark Supreme Court ruling that empowers states to levy taxes on mineral rights and mineral-bearing lands. This legislation seeks to establish a robust framework for mineral taxation, incorporating retrospective taxation provisions and differentiated rates based on mining categories.

  • How will this tax framework influence the availability of minerals within Karnataka?
  • Could the additional tax burden lead to an immediate hike in domestic iron ore prices, affecting downstream industries?
  • After the notable surge in iron ore exports from Karnataka last year, will the new taxation dampen export activity?
  • Could the higher cost of domestic production open the door for increased iron ore imports into Karnataka, reshaping the market dynamics?

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Decoding the Karnataka Tax Bill, 2024: Impact on the Iron Ore and Manganese Ore Industry

Webinar Recap

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