K'taka HC asks Wipro to pay 24 crore or else...

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Wipro
Bangalore, Dec 29: This will come as a shuddering year-end shocker for Wipro Technologies. The Karnataka High Court ruled on Tuesday, Dec 28 that the Indian software giant will have to pay a whopping Rs 24 crore by Dec 29 evening as Value Added Tax (VAT). This is towards a 4 pct tax on the software Wipro re-exported.

The bench comprising Justice Venugopala Gowda and B V Pinto quashed the company's plea and directed them to deposit the amount with the High Court. They also pronounced that the matter should be examined by the Appellate Authority for Commercial Taxes.

Earlier on Dec 10, the HC had asked the company to pay up 50 per cent of the tax amount before appealing to the appellate authority. The Court had also allowed the petitioners to file an appeal within two weeks. The company had however failed to produce the required statutory forms like H- forms to claim tax exemption.

Wipro will have to raise the said amount immediately to avoid getting caught in a legal tangle.

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