Gujarat's Finance Minister Vaju Vala today informed the state assembly that over 424 companies in the state owe over Rs 11,671 crore as Value Added Tax (VAT) dues to the government. Replying to a question from GPCC President Arjun Modhvadiya, Vala said that companies like GAIL, ONGC, RIL, Crompton Greaves owe the state government VAT dues of over Rs one crore in the last three years (2008-2011). "The government realised Rs 2,211.55 crore VAT from the companies in Vadodara in 2011, while Rs 605.53 crore was due," Vala said on floor of the house, in reply to the question of Modhvadiya.
Source: Economic Times
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