Panaji, Jan 5 (TNN): The Goa mineral ore exporters' association (GMOEA), the primary trading body of mine owners, has made a representation to the state government to reduce the hike in fees for the registration of lease deeds.
After hearing the GMOEA delegation out, chief minister Laxmikant Parsekar assured that grievances would be addressed, a member of the GMOEA told TOI. The CM also promised to discuss the association's proposal with the concerned government officials.
In its representation to the government, the GMOEA stated that the recent hike in registration fee is not only high but unaffordable for the mining companies in question.
A member of the association also said that another meeting would be held with the chief minister in the near future to discuss the issue. "We are agreeable to the registration amount that existed before the hike," the member said.
With the increase in fees for registration, the state government is likely to garner an additional revenue of around 600 crore from 39 mining leases.
Upon instructions from the directorate of mines and geology (DMG), 39 mining leases have paid stamp duty. Of these, 13 mining lease deeds have already been inked by the DMG and mining companies.
Within four months of signing their respective deeds, mining companies are required to register the same at the concerned sub-registrar's office.
Sources linked to mining firms have disclosed that high fees have dissuaded the customary registration of the lease deeds even as the stakeholders await a decision from the government on the matter.
A recent state government order issued by Vinayak R Kurtikar, undersecretary (establishment) mentioned that for registration of every instrument relating to grant or renewal of mining leases, registration fees shall be equivalent to stamp duty payable on such instruments under the Indian Stamp Act, 1899 (Central Act 2 of 1899).
The government further issued an ordinance to increase stamp duty for the renewal of mining leases. This was done by issuing the Indian Stamp Goa Amendment Ordinance, 2014 to determine fees paid for the renewal of mining leases. The amendment is expected to reap 400 crore as additional revenue for the treasury.