Goa mining ban causes Rs 35-cr service tax loss
The ban on iron ore mining in Goa has hit the revenue collection by causing a loss of Rs 35 crore since September 2012, a senior official said on Tuesday.
Panaji: The ban on iron ore mining in Goa has hit the revenue collection by causing a loss of Rs 35 crore since September 2012, a senior official said on Tuesday.
"The closure of mining activity since over a year has badly hit service tax collection," VPC Rao, Commissioner of Central Excise and Customs in Goa, told PTI.
The ban on iron ore mining by the Supreme Court had adversely impacted economic activities in Goa and also the collection of import and export duties.
Rao said a loss of Rs 35 crore has been reported since closure of the mining activity in September 2012.
Iron ore mining in the state is banned temporarily by the apex court after large-scale illegal mining was found after a probe by Justice M B Shah commission.
PTI
India’s trade surplus with US may cross $90 billion after tariff cuts, says SBI report
Inflation likely to be a big focus area for budget 2024, say sources
Explained: Will the Bank of Japan break tradition and raise interest rates?
UK enters recession, central bank admits
Explained: How the rising US dollar can affect everyone