Section 5(3) in Gujarat Minor Mineral Concession Rules, 2017
(3)The bidders shall quote, as the bidding parameter for the purpose of payment to the Government, premium offer(s) which shall be a percentage of value of mineral despatched equal to or above the base premium and the successful bidder shall pay to the Government, an amount known as the "auction premium" equal to the product of the-(i)percentage so quoted; and(ii)value of mineral despatched.
