SC has set aside order on sales tax: Essar Oil

Essar Oil Ltd said the Supreme Court has set aside the judgment of Gujarat High Court by which it was entitled to pay sales tax to the Gujarat government in deferred installments.

“The Supreme Court has set aside the judgment of the Gujarat High Court by which Essar Oil was entitled to avail of Sales Tax Deferment Scheme ie to pay sales tax to the Gujarat state government in deferred installments,” Essar Oil informed the Bombay Stock Exchange (BSE) in a filing.

The company had availed of about Rs 6,300 crore of sales tax benefit as of December 2011,which was to be paid in deferred installments,it added.