SC upholds Gujarat’s Rs 480-cr tax claim on ArcelorMittal Nippon Steel

Upholding the Gujarat tax department’s levy of Rs 480 crore purchase tax on ArcelorMittal Nippon Steel India (erstwhile Essar Steel), the Supreme Court on Friday held that the company was not entitled to any exemption from payment of the tax as it violated the 1992 incentive policy.

A Bench set aside the Gujarat High Court’s May 2016 judgment that had upheld the Gujarat Value Added Tax Tribunal’s order that held Essar Steel (ESL) was entitled to the exemption from payment of purchase tax.