Tax & Penalty5 Aug 2026, 08:10 pm
Oil India Ltd Updates on Tax Litigations
AI Summary
Oil India Ltd (OIL) has provided updates on ongoing tax litigations concerning Goods and Services Tax (GST) on royalty payments and the Assam Taxation (on Specified Lands) Act, 1990. Regarding GST on royalty, the company contends it is not payable, and the matter is pending before the Supreme Court. OIL has agreed to deposit GST as per law, subject to the final outcome. For the Assam State tax, OIL challenged a demand of approximately ₹2484.81 crores for 2005-2024. The State of Assam has now informed the court of its intention to withdraw this specific land tax, leading to the disposal of related cases by the Supreme Court.
Key Highlights
- Updates provided on ongoing tax litigations regarding GST and Assam State tax.
- Supreme Court to hear GST on royalty payments; OIL to deposit tax subject to outcome.
- Assam State to withdraw specific land tax on mineral oil, resolving related disputes.
- Total demand challenged under Assam State tax was approximately ₹2484.81 crores.
Price Impact
More from OIL