Section 4 in Orissa Rural Infrastructure and Socio-Economic Development Rules, 2005
4. Calculation of annual value of mineral bearing land.
(1)For the purpose of Explanation II of clause (a) of Section-2 of the Act, where no price are available on the date immediately preceding the first date of the financial year in relation to a mineral, the price or prices of the mineral of the nearby mineral bearing land shall be taken into account for the purpose of determination of price of that mineral or as the case may be, the price derived from the national price published by Indian Bureau of Mines for that particular mineral with reference to its grade, if any.(2)The annual value of a mineral bearing land held for carrying out mining operations for mineral in relation to a financial year, for an owner who holds mineral bearing land for more than one mineral, shall be the sum of sale prices of all minerals produced during the said period by the owner.(3)In case of sale in the domestic market, the per tonne sale value will be the price of the mineral actually realized, less the tax, fee, duty, royalty and other deductible costs as shown by the mineral bearing land holders in their sale vouchers or bills or invoices and shall be considered for computing the annual value of mineral bearing land. To avoid payment of tax on tax, fee, duty and royalty, the mineral bearing land holders in their own interest shall record the above taxes, fees, duties, royalty and other deductible costs, separately in the sale vouchers or bill or invoices instead of indicating a composite amount. In case these are not shown separately, it shall be assumed that the composite amount is the sale price.(4)In case of direct export by the mineral bearing land holders, the sale value for the purpose of annual value of mineral bearing land shall ordinarily be the freight on board (FOB) price realized less fee, duty, royalty, taxes and.other deductible costs. For such purposes, the mineral bearing land holder may prepare, invoices or bills indicating the freight on board price or insurance freight price as the case may be.(5)Where mineral produce is disposed of by more than one process such as sale in domestic market, direct export and captive consumption, the sale price or prices of mineral shall be the weightage average of prices of mineral determined by adopting the procedure in sub-rule (1), (3) and (4) above.
