Amendment status not verified — confirm the current text below against the official source.
(1) On and from such date as may he appointed by the State Government, by notification, there shall be levied and collected by that Government, in each financial year, a tax on the mineral rights every holder of a mining lease, and different dates, may be appointed for different minerals. (2) The amount of tax to be levied and collected under Sub-section (1) shall not exceed the amount of the royalty payable under this Act by the holder of the mining lease for the financial year immediately preceding the financial year in respect of which such tax has been levied, as may he specified by the State Government in the notification referred to in Sub- section (1) and different amounts may be specified for different minerals. (3) The tax referred to in Sub-section (1) shall be payable by the holder of the mining lease in addition to the royalty payable by him for the relevant financial year. Determination of tax