Singareni Collieries Company Ltd (SCCL) has contributed about ₹27,468 crore to the State and Central exchequer during the last five years, from 2014-15 to 2018-19, in the form various taxes, royalty, and other payments. “It has become possible with the tremendous growth in coal production, sales and profit achieved by the company enabling it to play an important role in development by contributing huge amounts in the form of taxes and other payments to the State and Central exchequer,” Chairman and Managing Director of SCCL N. Sridhar said here on Friday. Giving the details about the coal company’s contribution to the State and Central exchequer during the last five years, from 2014-15 to 2018-19, SCCL officials said the contribution of ₹27,468 crore was highest ever in the annals of the 130-year-old company.
They stated that the company has contributed ₹13,105 crore to the State government and ₹14,363 crore to the Central Government in the form of various taxes, royalty, dividend, and other payments. The company’s contribution to the State exchequer includes royalty, value-added tax, contract tax, State GST, dividend, and others. Similarly, along with the dividend it has been contributing through Central GST, service tax, customs duty, Swachh Bharat cess, Krishi Kalyan cess, GST compensation cess, clean energy cess, and several other taxes to the Central government every year.
Giving the details of payments made to the State government during the last five years, the Singareni Collieries officials said royalty was the prime contributor at ₹8,678.82 crore followed by Value Added Tax (₹1,240.67 crore). Similarly, payments to the Centre mainly include Clean Energy Cess of ₹4,846.41 crore, GST Compensation Cess of ₹4,095.86 crore, Advance Tax of ₹2,441.56 crore and Central Excise Duty of ₹986.64 crore.
Read more at: https://www.thehindu.com/news/national/telangana/govt-got-27468-cr-from-sccl-in-5-years/article27690526.ece