Abb Takk News

GIDC Case: SC Rejects Companies Appeals, Orders To Pay Taxes

ISLAMABAD:The Supreme Court of Pakistan Thursday issued its reserved verdict in the Gas Infrastructure Development Cess (GIDC) case and ordered the companies to pay Rs 417 billion while rejecting their appeals.

Justice Mushir Alam read the reserved decision made by a three-member bench.

The panel rejected the petitions in a 2-1 verdict, directing the companies to pay the Gas Infrastructure Development Cess.

It is pertinent here to mention that the former government had imposed the tax of Rs 417 billion while the incumbent regime had waived Rs 220 billion.

The government then withdrew the waiver ordinance after the opposition’s criticism.