India’s Supreme Court directs Essar Oil to pay sales tax to Gujarat state

The Supreme Court of India ruled that Essar Oil Ltd. should pay the Gujarat government sales tax dues of Rs5,165 crore (US$961 million) in eight quarterly installments. The amount will be paid with an interest of 10%, starting from January 17, 2012. The first installment is due on or before January 2, 2013.
The company had earlier asked for a three year-period at the minimum to pay the dues while the Gujarat government asked for the payment of dues within six months. (September 14, 2012)