Definitions

In this Act, unless the context otherwise requires,- (a) "annual value of mineral bearing land" in relation to a financial year, means one-half of the value of mineral produced from mineral bea'ring land during the two years immediately preceding that financial year. the value of mineral being that as could have been fetched by the entire production of mineral during Lhe said two immediately preceding years, had the owner of such mineral bearing land sold such mineral at the pri6e or prices excluding the amount of tax, fee, duty, royalty, or any other amount as may be prescribed, that prevailed on the date immediately preceding the first day of that financial year, EXPLANATION I- Where different prices are prevailing on the date immediately preceding the first dad of that financial par for different grades or qualities of mineral, the value of mineral of each grade or quality produced during the two years immediaLely preceding that financial year shall be determined accordingly. EXPLANATION I1 -Where no prices of mineral are available on the date immediately preceding the first date of that financial year, the price or prices of mineral shall be determined by the State Government, in such manner as may be prescribed. (b) "appellate au thoritf' means the authority as may be prescribed; (c) "coal bearing land" means any land acquired or declared from time to time under any law for the purpose of obtaining coal; (dl "mineral bearing land" means any land which bears minerals as defined in clause (a) of section 3 or the Mines and Mineral (Development and Regulation) Act, 1957 and held for carrying on mining opera tion, and includes coal bearing land; (e) "prescribed" means prescribed by rules; (0 "proceeds of tax" means the proceeds of tax levied under section 3; (g) "rules" means rules made under this Act; (h) "tax" means the rural infrastructure and socio-economic development tax levied under section 3; and (4) "year" means the financial year.