Brief: BASF India Gets Demand Notices From Commercial Tax Department, Karnataka

BASF India

04/03/2020 11:28

March 4 (Reuters) - BASF India Ltd  BASF.NS :
    * UPDATE ON DEMAND NOTICES RECEIVED FROM COMMERCIAL TAX
DEPARTMENT, KARNATAKA
    * NOW RECEIVED DEMAND NOTICES FOR FURTHER PERIODS 2010-13
FROM
COMMERCIAL TAX DEPARTMENT AGGREGATING TO 2.12 BILLION RUPEES
    * ALSO RECEIVED NOTICE FOR 463.9 MILLION RUPEES FOR 2015-16
FROM
COMMERCIAL TAX DEPARTMENT, KARNATAKA
    * CO IN PROCESS OF FILING DETAILED REPLY/SUBMISSION/APPEALS
IN
RESPONSE TO NOTICES
    * BASED ON LEGAL ASSESSMENT, CO DOES NOT CONSIDER THESE
STOCK
TRANSFERS AS INTERSTATE SALES; TAKING NECESSARY LEGAL STEPS TO
DEFEND MATTER.

Source text for Eikon:  ID:nBSEyY6w4 
Further company coverage:  BASF.NS 

 ((Reuters.Briefs@thomsonreuters.com;))