Paradeep Phosphates NCLAT Appeal Rejected on Entry Tax

Paradeep Phosphates intimates NCLAT rejected its appeal for Entry Tax exemption under a BIFR-sanctioned rehabilitation scheme.
The company had fully provided for a ₹76 crore liability and deposited ₹26 crore under protest against the demand.
No material financial impact is expected as the liability is already provided for in its books.
The company is planning to file an appeal against the NCLAT order before the Supreme Court.