BASF India gets tax demand notice for Rs 19.34 crore
18th Apr 2022

BASF India has received tax demand notice for Rs 19.34 crore (including interest & penalty) for the tax period 2017-18 (April-June, 2017) from Commercial Tax Department, Karnataka. The company is in the process of filing its detailed reply in response to this demand notice.

Earlier, the company had receipt demand notices from the Commercial Tax Department, Karnataka aggregating to Rs 744.67 crore (including interest and penalty) for the tax periods 2006-2007 to 2016-2017 by treating the stock transfers of the Company’s Mangalore Plant as interstate sales to dealers and its subsequent stay by Hon’ble Karnataka Appellate Tribunal on recovery of demand for the tax periods 2006-2007 to 2016-2017.

BASF India is a leading transnational company in the Indian chemical industry. The company's portfolio is organized into four segments: Chemicals Performance Products Functional Materials & Solutions and Agricultural Solutions.