Railway Accounts Department Examinations

Showing posts with label Seigniorate charges. Show all posts
Showing posts with label Seigniorate charges. Show all posts

Sunday, September 9, 2018

Seigniorage Charges - Important short notes question

                                                 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
Building Stone
Rs. 33/- per CMT
Rough Stone
Rs. 33/- per CMT
Road Metal
Rs. 33/- per CMT


 If any change in the above rates/instructions, readers are hereby requested to bring to the  notice of the Blogger for updation.