Reliance Industries Limited (RIL) could finally breathe a sigh of relief when the Lucknow Bench of Allahabad High court declared that the state government cannot levy Value Added Tax (VAT) from private companies dealing with the interstate transactions of natural gas in the state, overruling the state governments earlier order advocating the imposing of VAT on trading of natural gas supplied by RIL from Andhra Pradesh to UP via Gujarat.India s...more
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