Amendment status not verified — confirm the current text below against the official source.
In this.Act, unless the context otherwise requires,- (a) "annual value of mineral bearing land" in relation to a financial year, means one-half of the value of mineral produced from mineral bea'ring land during the two years immediately preceding that financial year. the value of mineral being that as could have been fetched by the entire production of mineral during Lhe said two immediately preceding years, had the owner of such mineral bearing land sold such mineral at the pri6e or prices excluding the amount of tax, fee, duty, royalty, or any other amount as may be prescribed, that prevailed on the date immediately preceding the first day of that financial year, EXPLANATION I- Where different prices are prevailing on the date immediately preceding the first dad of that financial par ' for different grades or qualities of mineral, the value of mineral of each grade or quality produced during the two years immediaLely preceding that financial year shall be determined accordingly. For the Bill, see Orissa Gazette, Extraordinary dated the 5th November 2004 (No. 1473) '* Came into force w.e.f. 1st February, 2005, vide Orissa Gazette Extraordinary, dated the 9th February, 2005 (No. 252). S EXPLANATION I1 -Where no prices of mineral are available on the date immediately preceding the first date of that financial year, the price or prices of mineral shall be determined by the State Government, in such manner as may be prescribed. (b) "appellate au thoritf' means the authority as may be prescribed; (c) "coal bearing landu' means any land acquired or declared from time to time under any law for the purpose of obtaining coal; (dl "mineral bearing landV.means any land which bears minerals as defined in clause (a) of section 3 or the Mines and Mineral (Development and Regulation) Act, 1957 and held for carrying 67 of 1957. on mining opera tion, and includes coal bearing land; (e) "prescribed" means prescribed by rules; (0 "proceeds of tax" means the proceeds of tax levied under section 3; (g) "rules" means rules made under this Act; (h) "tax" means the rural infrastructure and socio-economic development tax levied under section 3; and (4 "year" means the financial year. Levy of (ax. 3.(1) On and frob commencement of this Act, there shall be levied i and collected a rural infrastructure and socio-economic development tax on all mineral bearing land in the manner hereinafter provided. I - EXPLANATION^- For the removal of doubts, it ishereby declared that any land which is subjectto levy of tax under sub-section ( I ) , shall not be liable to ~ e s s under the Orissa Cess Act. 1962. Orissa ~ c t 11 011962. (2) -The rural infrastructure and socio-economic development tax shall be levied annually on all mineral bearing land at such rate, not exceeding twenty percenturn of the annual value of such mineral bearing land, as the State Government may, by notification, fix in that behalf, and different rates may be fixed for different mineral bearing land: Provided that where in case of any mineral bkaring land, lhere is no production of mineral for two consecutive years of more, such land shall be liable for levy of tax at such rate, not exceeding the dead rent payable under [he law for the time being in force on that mineral bearing land, as may be prescribed: Provided further that the State Government shall notify the rale of tax in respect of any such mineral bearing land,once during any period of two years. (3) The State Government, before fixing the rate of tax under sub- section (2), shall appoinl a Committee, in such.manner as may be prescribed who shall recommend to the State Government the annual value of mineral bearing lands and the rate a1 which the tax may be levied. 6 (4) Every nolification issued under sub-section (2) shall be laid before the State Legislalure for a total period of fourteen days which may be comprised in one or more sessions. Payment and recovery