« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  CAs may soon be able to keep books in US, Australia &... Mumbai tax collections up 150 pc in April-July... » BPCL, KRL merger to save Rs 150-cr CST a year August, 24th 2006 The merger of BPCL and Kochi Refineries Ltd (KRL), likely to be completed in the next two to three months, would help the combined entity to save Rs 150 crore a year on central sales tax. This is because, post-merger, products supplied by KRL to BPCL will be treated as stock transfer and not as sales, which suffers central sales tax. According to a senior BPCL official, the company's retail petrol and diesel sales in south India is largely done out of products sourced from KRL. Stake sale plan According to sources, BPCL was also planning to offload its 3.37-crore shares, available through the swap deal, to raise resources primarily to meet working capital requirement and for funding expansion plan of Kochi Refineries. The plan, however, may be put on hold for the time-being owing to fall in share prices of BPCL. Having touched Rs 502 on the BSE in May this year, BPCL stock closed at Rs 352 on Tuesday. Consequently, the value of the 3.37-crore shares has dropped from close to Rs 1,692 crore to Rs 1,186 crore. Meanwhile, following the merger, BPCL would place before the board a fresh proposal for capacity expansion of Kochi Refineries from 7.5 million tonne to 9.5 million tonne.