Mining in forest to attract 12% Forest tax
Bangalore: Chief Minister Yeddyurappa has given a mild dose to the mining and quarrying operators of the State. He has proposed to levy Forest Development Tax on all mining and quarrying operators in the forest areas. At present, only PSUs are under the tax net. The CM expects to raise an additional revenue of Rs 150 crore a year through this new exercise. When A K Verma was PCCF he had recommended to the government to levy Forest Development Tax at the rate of 12 per cent on private mining and quarrying operators in forest areas. The tax rate for PSUs is 8 per cent.
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