FILE PHOTO-People use their phones in front of the BYD Seagull that is displayed at the Auto Shanghai show, in Shanghai, China April 19, 2023.
REUTERS/Aly Song/File PhotoNEW DELHI, Aug 2 (Reuters) - Chinese automaker BYD (002594.SZ) faces an ongoing Indian investigation over allegations that it paid too little tax on imported parts for cars it assembles and sells in the country, two sources with direct knowledge of the matter said.
Although BYD has deposited this sum after the DRI's preliminary findings, the source added, the investigation is ongoing and could lead to additional tax charges and penalties.
BYD in India and China did not reply to several requests seeking comment.
One of the sources said BYD had not met these conditions, making it liable to pay either 70% or 100% depending on the value of the car.
Persons:
Aly, BYD, Nikunj Ohri, Aditi Shah, Zoey Zhang, Alexander Smith
Organizations:
Auto, REUTERS, India's, of Revenue Intelligence, Companies, Xiaomi Corp, HK, Thomson
Locations:
Auto Shanghai, Shanghai, China, New Delhi, Beijing, India