17 companies in touch with government for disposal of retrospective tax cases

(PTI) New delhi date. 3

According to Revenue Secretary Tarun Bajaj, 18 companies under the retrospective tax rule have approached the central government to resolve the delay cases.

Bajaj said that out of the 12 companies to which the retrospective tax rule has been applied, all but three or four companies have agreed to resolve the pending cases.

Bajaj further said that all these companies have approached the government. There were 13 cases of retrospective tax. Out of which all the companies except three to four have agreed to dispose of the delayed cases.

The controversial tax rule, which has been in force since 2013, was amended in August this year and the provision for levying tax from a later date has been repealed.

However, this requires companies to withdraw all cases against the central government. Refund of tax collected from these companies will be paid only after the case is withdrawn.