Mangalam Organics, which had applied for settlement under “Sabka Sath Sabka Vikas” scheme for tax dues under the Central Excise Act, 1944, said the dues now are settled at ₹5.12 crore and it paid the settlement amount on Monday.
For long, the case has been pending before the Mumbai High Court for ₹13.42 crore. Following this, the appeal pending with the Customs Excise and Service Tax Appellate Tribunal has also been settled with nil liability and penalty, it said.