BASF India has received demand notices from the Commercial Tax Department, Karnataka aggregating to Rs 211.25 crore for the period 2010-13 by treating the stock transfers of its Mangalore Plant as interstate sales to dealers. The company has also received a notice for Rs 46.39 crore (including interest & penalty) for the period 2015-16 from Commercial Tax Department, Karnataka.
The company is in the process of filing its detailed reply/submission/appeals in response to these Notices.
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.
