Comments
The Bombay High Court has asked Chinese tech company ByteDance to set aside ₹79 crore in its bank account to meet the demand raised by the Goods and Services Tax (GST) authorities.
Tax authorities had blocked two bank accounts of the Chinese company over alleged evasion. ByteDance, parent of TikTok, had challenged the move at the Bombay High Court. On Tuesday, a Bench of Justices SP Deshmukh and Abhay Ahuja directed ByteDance to deposit ₹78.91 crore and allowed the company operate its other bank accounts in India.
While the company welcomed the ruling, it has not clarified if it will pay the tax claims.
Sources close to the company said ByteDance has neither made a commitment to settle nor agreed to deposit the money until the tax investigation is resolved.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.