SC refuses Essar Oil time to pay sales tax
Essar Oil Ltd suffered a setback after the Supreme Court on Monday dismissed its plea seeking extension of time to pay outstanding sales tax dues to Gujarat.business Updated: Nov 12, 2013 00:41 IST
Essar Oil Ltd suffered a setback after the Supreme Court on Monday dismissed its plea seeking extension of time to pay outstanding sales tax dues to Gujarat.
The company has already deposited Rs3,000 crore out of Rs6,165 crore, which was to be paid in accordance with the Gujarat High Court verdict.
A bench of Justice AK Patnaik and Justice JS Khehar turned down the company’s plea after Gujarat government counsel, senior advocate Parag Tripathi, said he wasn’t agreeable to any extension.
Essar contended its Vadinar refinery was the only one that did not get any incentive or concession from the Union government. Senior counsel Mukul Rohatgi pleaded for more time and said he did not want any rescheduling of repayment of outstanding sales tax dues.
Essar Oil had moved the top court on October 4 requesting more time to pay outstanding sales tax dues. It claimed the company was facing financial constraints due to the economic slowdown and denial of tax benefits.