Amid Ongoing Insolvency Woes, Tax Authorities Seek $101 Mn In Statutory Dues From BYJU’S

Amid Ongoing Insolvency Woes, Tax Authorities Seek $101 Mn In Statutory Dues From BYJU’S

SUMMARY

While CBIC has filed a claim worth INR 157 Cr, Karnataka tax authorities have sought dues worth INR 691 Cr

The Insolvency and Bankruptcy Board’s documents describe the outstanding amounts as "statutory dues”

So far, claims worth over INR 13,027 Cr have reportedly been received from 1,887 creditors of BYJU’S, most of which are still under review

Troubles of BYJU’S seem far from over. Indian tax authorities have sought dues worth over INR 848 Cr ($101 Mn) from the edtech major as part of the company’s ongoing insolvency proceedings. 

As per the Insolvency and Bankruptcy Board’s documents seen by Inc42, the Central Board of Indirect Taxes and Customs (CBIC) has filed a claim worth INR 157 Cr ($18.7 Mn) before the insolvency resolution professional Pankaj Srivastava and Karnataka Commercial tax Department has sought dues worth INR 691 Cr ($82.3 Mn). 

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