PORVORIM: The Comptroller and Auditor General (CAG) has revealed that the Directorate of Mines and Geology (DMG) failure to assess the correct amount of stamp duty from mining leases, resulted into short-recovery of over Rs 108 crore.
The audit scrutiny of 76 mining lease deeds, from May 2017 to June 2017, executed between DMG and leaseholders and registered at six Civil Registrar cum Sub Registrar offices revealed that the stamp duty was incorrectly worked out in respect of 13 mining leases, which were executed during the period from January 5, 2015 to January 26, 2016 and registered after May 14, 2015.
“DMG collected an amount of Rs 66.45 crore, instead of Rs 169.72 crore, resulting in short-recovery of stamp duty amount to Rs 103.27 crore,” CAG said.
In addition to the stamp duty, the registration fee at the rate of five percent of stamp duty of Rs 103.27 crore amounting to Rs 5.16 crore was leviable in accordance with notification issued by the government on May 12, 2015.
“Thus failure on part of DMG in assessing the correct stamp duty resulted in a short-recovery of stamp duty and registration fee amount to Rs 108.43 crore,” the auditor stated.
After the same was pointed out to the department, it accepted the audit observation and stated that the necessary corrective measures were initiated for realisation of stamp duty, notices for deposit of stamp duty and registration fee were issued to the concerned lease holders. One of the lease holder deposited Rs 10.26 lakhs in August, 2017.
