MARGAO: Mining industry associations have urged the government to rationalise stamp duty charges to ensure growth and sustainability of the mining sector in the State.
Both Goa Mineral Ore Exporter’s Association (GMOEA) and the Goa Mining Association (GMA) met Chief Minister Pramod Sawant in Margao on Tuesday and sought immediate resumption of mining activities in the state.
Voicing a pressing concern over stamp duty provisions related to the nine blocks auctioned recently, the associations pointed out that the stamp duty calculations meant previously for 20-year period are now being applied for 50-year period. This, they claimed, was posing a significant challenge to the viability and sustainability of mining operations in the State.
The associations alleged that the stamp duty is disproportionate and out of sync with similar stamp duty charges in other mineralised States across the country.
Speaking to media persons later, Chief Minister Pramod Sawant said he would look into their demands and deliberate on their suggestions.
“The Goa government is mulling changing the pattern of stamp duty charges payment by mining firms. Instead of applying the charges for the 50-year period, the government is considering part payment every 10 years,” informed Sawant.
“Although the amount charged will be the same, this will help in Ease of Doing Business,” he added.
“It is difficult for the mining lease holders too to pay Rs 250-300 crore at a time. We want mining to start as early as possible,” Sawant asserted, while responding to queries about his earlier meeting with the Mining Industries Association delegation who had sought relaxation in norms.
Glenn Kalavampara, secretary general, GMOEA, said, “The success of any grants ultimately lies in the actual successful commencement of operations. Considering the challenges in tenor, higher acquisition cost and ease of doing business, it is hoped that such fees to be charged be realistic and fair.”
