Goa Carbon has informed that the Company vide Writ Petition No. 939 of 2019 filed before Hon'ble High Court of Bombay at Goa challenged the constitutional validity of Goa Green Cess on Products and Substances Causing Pollution (Green Cess) Act, 2013 (hereinafter said Act) and Rules made thereunder. The said Act came into force with effect from 15.07.2013. From 18.07.2014 onwards the calcinated petroleum coke (CPC), manufactured by the Company, came within the ambit of the said Act attracting cess @ 2% on the sale value. However, the rate of cess was changed to 0.5% of sale value with effect from 12.09.2014. The Hon'ble High Court vide interim order dated 22.10.2019 tagged the Writ Petition filed by the Company with other writs filed on similar issue and granted interim relief to effect that no coercive steps be taken against the Company during the pendency of the petition. Accordingly, the Company did not pay the cess on CPC manufactured and sold by it. However, appropriate provisions for the disputed cess amount liability have been made in the books of accounts.
The above information is a part of company’s filings submitted to BSE.