Reliance Industries Ltd (RIL) on Monday assured the Supreme Court that it would start paying Value Added Tax (VAT) to Uttar Pradesh government on sale of gas in the state from February one till a decision by the Allahabad High Court on its plea against the tax imposition. Taking note of RIL's submission, a bench headed by Justice Altamas Kabir asked the high court to decide expeditiously the company's plea against state government's decision to impose VAT. The company also submitted that the VAT imposed on its product would be passed on to the consumers.
Source: Times of India
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