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Set aside ₹79 cr for GST demand, operate other ACs, Court to ByteDance

Our Bureau Mumbai | Updated on April 06, 2021

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.

Published on April 06, 2021

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