Levy of mineral areas development cess on land under mining lease

(1) There shall be levied and collected on the land held under a mining lease for undertaking mining operations a mineral areas development cess at the rate of ten per cent. of the rental value of land. (2) For the purpose of sub-section (1) rental value shall be equal to the royalty or dead rent, as the case may be, whichever is higher. (3) The mineral areas development cess shall be payable by the person to whom the mining lease is granted. (4) The mineral areas development cess shall, subject to and in accordance with the rules made in this behalf, be collected by and recovered in such manner as may be prescribed and shall be applied towards development of mineral bearing areas.