<h1>Odisha Government and IOCL Resolve Tax Dispute Over Paradip Refinery with Revised Funding and VAT Settlement.</h1> The Odisha government and Indian Oil Corporation Limited (IOCL) have agreed to settle their tax dispute over the Paradip refinery. They will file a joint petition in the Orissa High Court detailing the agreement. The settlement includes revising the Viability Gap Funding to Rs. 700 crore annually as an interest-free loan for 15 years starting from 2016-17. IOCL will repay from the 16th year and pay outstanding VAT for 2015-2018. Odisha will waive Rs. 224.33 crore in interest and penalties. The dispute originated from a 2017 state order withdrawing fiscal incentives, leading to IOCL's legal challenge and subsequent resolution through a working group.