BASF India share price falls on tax notice from Karnataka

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26 Aug, 2025 12:21

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BASF India share price fell over a percent intraday on March 22 after the company received a Rs 73.33-crore notice from Karnataka's commercial tax department.

"..... has received notice for Rs 73.33 crore (including interest & penalty) for the period 2016-17 from Commercial Tax Department, Karnataka," the company said in the release. The company is in the process of filing a reply to this notice.

Earlier, the company had received demand notices aggregating to Rs 670 crore (including interest and penalty) for the periods 2006-2007 to 2015-2016 by treating the stock transfers of the company’s Mangalore Plant as interstate sales to dealers and its subsequent stay by Hon’ble Karnataka Appellate Tribunal on the recovery of demand for the periods 2006-2007 to 2015-2016.

The company, based on the legal assessment, does not consider these stock transfers as interstate sales and is taking all the necessary legal steps to defend the matter, it said.

At 1246 hours, BASF India was quoting at Rs 2,064.00, down Rs 14.55, or 0.70 percent, on the BSE.

The share touched a 52-week high of Rs 2,370 on  March 5, 2021 and a 52-week low of Rs 917.10 on March 19, 2020. It is trading 12.91 percent below its 52-week high and 125.06 percent above its 52-week low.

BASF India Ltd is engaged in the business of manufacturing and marketing of styropor, tanning agents, leather chemicals and auxiliaries, crop protection chemicals, textile chemicals, dispersions and specialty chemicals, plastics, automotive and coil coatings, catalysts, construction chemicals, polystyrene and polyurethane systems.