1. SC stays Gujarat HC Rs 10,000-cr VAT order on ONGC, OMCs

SC stays Gujarat HC Rs 10,000-cr VAT order on ONGC, OMCs

The Supreme Court on Friday stayed the Gujarat High Court order that asked state-owned ONGC and other oil marketing companies (OMCs)...

By: | New Delhi | Published: April 30, 2016 1:48 AM

The Supreme Court on Friday stayed the Gujarat High Court order that asked state-owned ONGC and other oil marketing companies (OMCs) to pay value-added tax (VAT) of around Rs 10,000 crore on LPG and superior kerosene oil (SKO) supplied as part of public distribution system (PDS) in the state, reports Indu Bhan in New Delhi.

The court, while seeking response from the state government, stayed the HC order after attorney general Mukul Rohatgi argued that the LPG and SKO were supplied to OMCs in terms of guidelines issued by the petroleum ministry and this was to ensure that these essential commodities reach the consumers at affordable prices.

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Tags: ONGCVAT
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