Chennai, March 15 -- Cement prices across various states are likely to increase as state governments may impose new mineral taxes after a Supreme Court judgement, according to JM Financial report.

Following the Supreme Court ruling in July 2024, which allowed states to levy taxes on mineral rights and mineral-bearing lands in addition to royalties, Tamil Nadu has introduced the Tamil Nadu Mineral Bearing Land Tax Act, 2024.

Under this law, an additional Rs160 per tonne tax on limestone mining will take effect from February 20, 2025. With other mineral-rich states, including Karnataka, considering similar measures, cement companies are expected to raise prices to offset rising costs.

The new tax is expected to significantly impact cemen...