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All You Need To Know On Apex Court's Verdict On Mining Royalties And Its Broader Impact

Experts said that if the ruling is given retrospective applicability, mining companies will be in a lot of trouble.

<div class="paragraphs"><p>Supreme Court holds that mining royalties are not a tax.</p></div>
Supreme Court holds that mining royalties are not a tax.
In a seminal judgement that has put to rest a controversy stemming from an alleged ‘typographical error’, a nine-judge bench of the Supreme Court has ruled that royalty paid by a mining leaseholder to the lessor is not a tax but a contractual consideration for enjoyment of mineral rights.The origin of this controversy dates back to 1989, when a seven-judge bench of the court mistakenly held 'royalty' to be in the nature of tax. ...
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