Mining companies stare at 1.5 lakh crore hit from SC’s retro tax order

Public and private mining companies in India faced Rs 1.5 lakh crore arrears after the Supreme Court allowed states to collect royalty and tax on mineral-bearing land retrospectively from April 1, 2005. This judgement has significant implications for sector investment prospects, bottomlines, and may lead to increased power tariffs as financial liabilities impact company expansions and operations.