JSW Steel gets 'partial' relief in Forest Development Tax case
Sajjan Jindal-led JSW Steel said the Karnataka High Court gave the steel maker a 'partial' relief in the Forest Development Tax case.
By Megha Mandavia, ET Bureau | Updated:
MUMBAI: Sajjan Jindal-led JSW Steel said the Karnataka High Court gave the steel maker a 'partial' relief in the Forest Development Tax (FDT) case.
The judgement in response to a petition filed by mine owners and the purchasers of iron ore including JSW Steel Limited on the levy of FDT by the Karnataka government, according to a regulatory filing on BSE. It did not specify the percentage of relief it received.
"The Company is closely monitoring the developments in this regard. The Company note to keep the exchange informed of any material developments affecting the Company," JSW Steel said in the filing.
The parties are entitled to appeal to the Hon'ble Supreme Court within the stipulated period of limitation of 90 days, it added in the statement.
The judgement in response to a petition filed by mine owners and the purchasers of iron ore including JSW Steel Limited on the levy of FDT by the Karnataka government, according to a regulatory filing on BSE. It did not specify the percentage of relief it received.
"The Company is closely monitoring the developments in this regard. The Company note to keep the exchange informed of any material developments affecting the Company," JSW Steel said in the filing.
The parties are entitled to appeal to the Hon'ble Supreme Court within the stipulated period of limitation of 90 days, it added in the statement.
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