Thursday, Oct 23, 2014

Binani Cement says it is committed to paying taxes

Press Trust of India | New Delhi | Posted: June 29, 2014 1:30 am

Binani Cement, which was on Friday questioned by the Supreme Court for not paying sales tax, said that it is committed to making payment of the liability and is not in any manner trying to default.

In a statement issued by RS Joshi, president-corporate affairs, the company said it is only seeking instalments for making the payment as provided under law.

“The Company is committed towards making payment of the liability and is not in any manner trying to default the same but is only seeking instalments as provided under the law. For a company that has already accepted the liability and has made payments as per the High Court order, increased pressure by the government would make the company operation unviable giving the cost of raw material increase and low off take of cement in the current market,” the statement said.

The company said it started making payments towards the liability right from March 2013 every month and had paid about Rs 20 crore uring the pendency of the application for instalments before the Rajasthan sales tax department.

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