Centre has promised to refund any tax collected using such law but without any interest and subject to companies agreeing to withdraw all pending legal proceedings...
CEO Simon Thomson said the Edinburgh-based oil explorer was prepared to end the litigation against the Government of India involving the retrospective tax dispute...
Sources said the department of telecommunications is working out the package and will hold discussions with the finance ministry before it is finalised...
That rule had been used to levy a cumulative of Rs 1.10 lakh crore of taxes on 17 entities, including Rs 10,247 crore on Cairn and Rs 22,100 crore on Vodafone...