https://www.taxtmi.com/highlights?id=56336 Classification - Grant of mining lease for extracting Mineral called “BLACKTRAP” - payment of rent/royalty is for license given to extract minerals and the amount of rent/royalty paid is based on the quantum of mineral extracted. Hence it is covered under Service Accounting Code 997337 - Licensing services for the right to use minerals including its exploration and evaluation, as it is a license to extract mineral ore and also the right to use such minerals extracted. - It would attract GST rate 18% from the period of July, 2017 onwards. - AAR en-us Fri, 15 Jan 2021 11:08:55 +0530 Fri, 15 Jan 2021 11:08:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56336 Classification - Grant of mining lease for extracting Mineral called “BLACKTRAP” - payment of rent/royalty is for license given to extract minerals and the amount of rent/royalty paid is based on the quantum of mineral extracted. Hence it is covered under Service Accounting Code 997337 - Licensing services for the right to use minerals including its exploration and evaluation, as it is a license to extract mineral ore and also the right to use such minerals extracted. - It would attract GST rate 18% from the period of July, 2017 onwards. - AAR Highlights GST Fri, 15 Jan 2021 11:08:55 +0530 https://www.taxtmi.com/highlights?id=56336