BASF India gets Rs 613 cr tax demand from Karnataka govt

Speciality chemical firm BASF India Ltd has received a Rs 613 crore tax demand from the Karnataka government for 2006-2015 period.

In a filing to the BSE, BASF India informed that it has received "demand notices from the Commercial Tax Department, Karnataka aggregating to Rs 324.49 crore (including interest & penalty) for the period 2006-2010, 2010-11 (2 months), 2014-15, by treating the stock transfers of its Mangalore Plant as interstate sales to dealers."