To save around Rs 400 cr via octroi, says BPCL
By Devina Menon | Published On: June 21, 2012 09:50 (IST) | Duration: 6 min, 42 sec
Oil marketing companies will now be paying VAT or octroi on the net realizations not on the gross realizations, which they were doing earlier. RK Singh, CMD, BPCL told NDTV Profit that the company will save around Rs 400 crore through this tax. "We may pass on the benefits to customers if crude prices are low," he said.