The Meghalaya Government expects to derive around Rs 27 crore additional revenue from lease holders of mines in the State who have been directed to pay the remaining of the 50 per cent stamp duty within March 31 on the close of the financial year.
Chief Minister Conrad K Sangma, who chaired a cabinet meeting on Wednesday, said the direction was given as per a court order that mining lease stamp duty is not under the instrument of conveyance and hence mining lease holders will have to pay 100 percent stamp duty.
He said the earlier interpretation was that the mining lease falls under the instrument of conveyance, according to which Schedule Caste/Schedule Tribe need to pay only 50 per cent of the stamp duty but that is not the case as per the court order.
“Therefore, all the mining lease holders are being asked to immediately pay the rest of the 50 per cent for the mining lease stamp duty. We are allowing them to pay half of it immediately and the rest of the half within March 31, 2021,” the Chief Minister, who also holds the finance portfolio, said.
