The Hindu : Karnataka / Bangalore News : MRPL seeks entry tax exemption on crude oil

Online edition of India's National Newspaper
Sunday, Feb 04, 2007
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Karnataka

Karnataka - Bangalore

MRPL seeks entry tax exemption on crude oil

Special Correspondent

The company is paying 2 per cent tax on raw material

DISCUSSING PROJECTS: Deputy Chief Minister B.S. Yediyurappa with MRPL officials in Bangalore on Saturday. — Photo: K. Bhagya Prakash

BANGALORE: The Mangalore Refinery and Petrochemicals Limited (MRPL) on Saturday appealed to the State Government to exempt it from paying entry tax on crude oil.

MRPL Director (Finance) L. K. Gupta and other top-ranking officials met Deputy Chief Minister B.S. Yediyurappa, who also holds the finance portfolio, at his office in Vidhana Soudha and requested him to provide such an exemption.

At present the MRPL is paying an entry tax of 2 per cent on the raw material for its refinery in Mangalore. The company officials pointed out that such an entry tax for the refinery was being slapped only in Karnataka. Other States, including Gujarat, which had refineries, were not imposing entry tax on raw materials, they said.

Exempting the company from the payment of entry tax would make it more robust in terms of finances and help in the speedy implementation of its proposed mega petrochemicals project at a cost of Rs. 25,000 crore, the company representatives said. After the meeting , Mr. Yediyurappa told presspersons that he had assured the MRPL of examining their request.

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