Essar moves SC over review of sales tax order

today said it has filed a petition in the seeking a review of the apex court's decision setting aside a ruling of the that allowed the company to defer payment of to the state government.

In a press statement Essar said, "It has filed a petition in the seeking a review of the apex court's decision relating to repayment of deferred sales tax."

On January 17, 2012, the had set aside a judgement permitting to avail of a deferral benefit from the Gujarat Government. due to be paid in installments was about Rs 6,300 crore as of December.

Subsequent to the ruling, the Gujarat government asked to repay about Rs 6,300 crore plus interest accrued.

Essar Oil, which is 87% owned by London-listed Essar Energy Plc, has "already made provision for repaying part of the deferment liability. This liability has been assigned to a third party," the company had stated on January 31.

The company today said the in an earlier order had extended time to for commencing commercial production at the Vadinar Refinery, thus making the company eligible to avail of Gujarat state's Capital Investment Incentive to Premier/Prestigious Unit Scheme, 1995-2000.

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Business Standard
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Business Standard

Essar moves SC over review of sales tax order

Press Trust of India  |  New Delhi 

today said it has filed a petition in the seeking a review of the apex court's decision setting aside a ruling of the that allowed the company to defer payment of to the state government.

In a press statement Essar said, "It has filed a petition in the seeking a review of the apex court's decision relating to repayment of deferred sales tax."

On January 17, 2012, the had set aside a judgement permitting to avail of a deferral benefit from the Gujarat Government. due to be paid in installments was about Rs 6,300 crore as of December.

Subsequent to the ruling, the Gujarat government asked to repay about Rs 6,300 crore plus interest accrued.

Essar Oil, which is 87% owned by London-listed Essar Energy Plc, has "already made provision for repaying part of the deferment liability. This liability has been assigned to a third party," the company had stated on January 31.

The company today said the in an earlier order had extended time to for commencing commercial production at the Vadinar Refinery, thus making the company eligible to avail of Gujarat state's Capital Investment Incentive to Premier/Prestigious Unit Scheme, 1995-2000.

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Essar moves SC over review of sales tax order

Essar Oil today said it has filed a petition in the Supreme Court seeking a review of the apex court's decision setting aside a ruling of the Gujarat High Court that allowed the company to defer payment of sales tax to the state government.

today said it has filed a petition in the seeking a review of the apex court's decision setting aside a ruling of the that allowed the company to defer payment of to the state government.

In a press statement Essar said, "It has filed a petition in the seeking a review of the apex court's decision relating to repayment of deferred sales tax."

On January 17, 2012, the had set aside a judgement permitting to avail of a deferral benefit from the Gujarat Government. due to be paid in installments was about Rs 6,300 crore as of December.

Subsequent to the ruling, the Gujarat government asked to repay about Rs 6,300 crore plus interest accrued.

Essar Oil, which is 87% owned by London-listed Essar Energy Plc, has "already made provision for repaying part of the deferment liability. This liability has been assigned to a third party," the company had stated on January 31.

The company today said the in an earlier order had extended time to for commencing commercial production at the Vadinar Refinery, thus making the company eligible to avail of Gujarat state's Capital Investment Incentive to Premier/Prestigious Unit Scheme, 1995-2000.

image
Business Standard
177 22

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