BASF India has received a tax demand notice of Rs 46 crore from the Karnataka government. The company had earlier got demand notices from the Commercial Tax Department, Karnataka, aggregating to Rs 620.93 crore (including interest and penalty) for the periods 2006-2007 to 2014-2015 by treating the stock transfers of the company's Mangalore plant as interstate sales to dealers.
The company is in the process of filing its detailed reply/submission/appeals in response to the demand notice.
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.
