VALUATION UNDER CENTRAL EXCISE

[MOHAMED RAFIQ]

ROYALTY PAYABLE UNDER MINING LEASE FOR EXTRACTION OF MINERALS FORMS PART OF EXCISABLE TURNOVER.PLEASE THROW LIGHT ON THIS ISSUE.

[YAGAY andSUN]

It may attract Service Tax under mining activities.

AI Summary

Royalty under mining lease may form part of excisable turnover and attract service tax for mining activities. Royalty payable under a mining lease for extraction of minerals is treated as part of the excisable turnover for valuation purposes and may attract service tax under mining-related activities.