BASF India has received demand notices from the Commercial Tax Department, Karnataka aggregating to Rs 324.49 crore for the period 2006-2010, 2010-11 (2 months), 2014-15, by treating the stock transfers of its Mangalore Plant as interstate sales to dealers. However, recovery of the demand pertaining to the period 2010-11 (2 months) and 2014-15 aggregating to Rs 98.81 crore has been stalled by Karnataka Appellate Tribunal. The Company has filed an appeal along with an application for grant of stay on recovery of demand pertaining to the period 2006-2010.
The Company has also filed a Writ Petition before Karnataka High Court and has prayed for grant of stay on the Demand Notices. The Company has also received Notices aggregating to Rs 288.43 crore for the period 2010-11 (10 months) & 2011-14 from Commercial Tax Department, Karnataka.
BASF India is a chemical manufacturing company. It operates in the business segments of agricultural solutions, performance products, plastics businesses and chemicals. The agricultural solutions include insecticides, herbicides, fungicides and specialties.ac
