Seigniorage Charges
ü Are reference to excavating earth moorum, sand and other minerals.
ü Fixed by the State Government.
ü Recovered by the Railways from the contractors from “On Account” and “Final Bills” and remitted the same to the State Government.
ü The rates quoted by the tenderer shall be inclusive of these charges.
ü Seigniorage may be counted as revenue for a government when the money that is created is worth more than it costs to produce it. This revenue is often used by governments to finance a portion of their expenditures without having to collect taxes.
example It costs the government Rs.5 to produce a Rs.100 currency note, the seigniorage is Rs.95 or the difference between the two amounts.
ü The revised seigniorage charges as fixed by the Government in G.O.Ms. No. 331 Industries and Commerce (M-1) Department dated 21-6-2000 read with the G.O.Ms.No.466 Industries & Commerce (M-1) Department, dated 24.8.2000, may be adopted as :
Sl No.
|
Name of the Mineral
|
Rate of Seigniorage Fee
|
1
|
Building Stone
|
Rs. 33/- per CMT
|
2
|
Rough Stone
|
Rs. 33/- per CMT
|
3
|
Road Metal
|
Rs. 33/- per CMT
|
Note:
If any change in the above rates/instructions, readers are hereby requested to bring to the notice of the Blogger for updation.
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