Supreme Court passed a judgment on 13 September 2012 for Gujarat Sales Tax case allowing Essar Oil to pay back the sales tax dues in phases. The dues amount of Rs 5,165 crore can be paid back in eight different installments of two years beginning from 17 January 2012. Supreme Court also dismissed the demand of Rs 1800 crore interest made by the Government of Gujarat.
The court also directed the oil company to make the payment at the interest rate of 10 percent on the payment due of 17 January 2012 instead of 18 percent demanded by the state Government. In its statement, the oil company cleared that it has already cleared a due payment of Rs 1004 crore of the total dues amount of Rs 6169 crore.
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