India's Mining Fiscal Regime: H1 2014

India's Mining Fiscal Regime: H1 2014

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Published on Mar 01, 2014 - 23 pages

The mining industry in India is governed by Ministry of Mines, Indian Bureau of Mines (IBM) and Geological Survey of India (GSI). The Mines and Minerals (Development and Regulation) Act 1957, (MMDR) as amended up to May 10, 2012 and the Mines Act 1952, together with the rules and regulations framed under them, constitute the basic laws governing the mining sector in India. The Union Cabinet approved the proposal to introduce the MMDR Bill 2011, which would eventually replace the 1957 Act once passed by parliament.

Report Highlights
  • The mining industry in India is governed by Ministry of Mines, Indian Bureau of Mines (IBM) and Geological Survey of India (GSI).
  • The Mines and Minerals (Development and Regulation) Act 1957, (MMDR) as amended up to May 10, 2012 and the Mines Act 1952, together with the rules and regulations framed under them, constitute the basic laws governing the mining sector in India. The Union Cabinet approved the proposal to introduce the MMDR Bill 2011, which would eventually replace the 1957 Act once passed by parliament.
  • The Central and the state governments are responsible for managing the mineral resources in India.
  • The Ministry of Coal is an authorized body and oversees the administration and development policies and strategies, non-coking coal, lignite deposits and mining operations in India. It also supervises production, demand, supply, distribution and price-related matters for coal. The ministry is also in charge of the administration of the Coal Mines Provident Fund Organization (CMPFO) and Coal Mines Welfare Organization (CMWO).
  • The Subsoil Law is the main law in the mining industry, providing all relevant laws and regulations regarding subsoil use in the Russian Federation. Other regional laws on subsoil are also applicable to the mining industry.
Report Scope

The report outlines India's governing bodies, governing laws, mine ownership and licenses, mining rights and obligations, key fiscal terms which includes reconnaissance fees, prospecting fees, surface and dead rents, corporate income tax, royalty, education cess, clean energy cess and more.

Reasons to Get this Report

To get an overview of India's mining fiscal regime.

Table of Contents

1 Executive Summary 1
2 The Indian Mining Industry - Governing Bodies 7
2.1 Ministry of Mines 7
2.2 Ministry of Coal 7
2.3 Indian Bureau of Mines (IBM) 7
2.4 Geological Survey of India (GSI) 7
2.5 Ministry of Environment and Forests (MoEF) 7
2.6 Coal Controller 8
2.7 Department of Atomic Energy (DAE) 8
2.8 Atomic Minerals Directorate (AMD) for exploration and research 8
2.9 Atomic Energy Regulatory Board (AERB) 8
3 The Indian Mining Industry - Governing Laws 9
3.1 Mines Act, 1952 9
3.2 Mines and Minerals (Development and Regulation) Act, 1957 9
3.3 The Coal-Bearing Areas (Acquisition and Development) Act, 1957 9
3.4 The Atomic Energy Act, 1962 9
4 The Indian Mining Industry - Mining Ownership and Licenses 10
4.1 Mining Licenses 10
4.1.1 Reconnaissance License 10
4.1.2 Prospecting License 10
4.1.3 Large Area Prospecting License 10
4.1.4 Mining Lease 11
4.1.5 Captive Coal Mining License 11
5 The Indian Mining Industry - Rights and Obligations 12
5.1 Rights 12
5.2 Obligations 12
6 The Indian Mining Industry - Key Fiscal Terms 13
6.1 Fees 13
6.1.1 Reconnaissance Fee 13
6.1.2 Prospecting Fee 13
6.2 Rent 13
6.2.1 Surface Rent 13
6.2.2 Dead Rent 13
6.3 Royalty 13
6.4 Corporate Tax 16
6.5 Surcharge 16
6.6 Education Cess 16
6.7 Clean Energy Cess 16
6.8 Clean Energy Cess 16
6.9 Branch Profits Tax (BPT) 17
6.10 Withholding Tax 17
6.11 Losses Carry Forward 17
6.12 Deductions 17
6.13 Depreciation 17
6.14 Value Added Tax (VAT) 17
6.15 Tax Incentives 18
6.16 Tax Treaties 18
7 Appendix 19
7.1 What is this Report About? 19
7.2 Methodology 19
7.3 Secondary Research 19
7.4 Primary Research 19
7.5 Contact Timetric 20
7.6 About Timetric 20
7.7 Timetric's Services 21
7.8 Disclaimer 22


List of Tables

Table 1: The Mining Industry in India - Fiscal Regime Terms and Other Taxes 1
Table 2: The Mining Industry in India - Dead Rent Rates Per Hectare (INR), 2014 13
Table 3: The Mining Industry in India - Coal and Lignite Royalty Rates, (INR/%), 2014 15
Table 4: The Mining Industry in India - Coal Middlings Royalty Rate, (INR/%), 2014 15
Table 5: The Mining Industry in India - West Bengal Coal and Lignite Royalty Rates Per Tons, 2014 16
Table 6: The Mining Industry in India - Withholding Taxes (%), 2014 17
Table 7: The Mining Industry in India - Depreciation Rates (%), 2014 17


List of Figures

Figure 1: The Mining Industry in India - Commodity Mines at Different Stages 2