CosmicTaco

Infosys Faces Allegations of Rs 32,000 Crore GST Evasion

CosmicTaco · 2024-07-31T22:32:39.590031+05:30

- Infosys has received a pre-show cause notice for alleged GST evasion amounting to ₹32,403 crore. - The notice, issued by Karnataka GST authorities, covers the period from July 2017 to March 2022. - Infosys claims GST is not applicable to expenses incurred by its overseas branches, citing a recent circular. - The company asserts it has paid all GST dues and remains compliant with regulations. - GST Intelligence alleges Infosys owes IGST under the reverse charge mechanism for overseas branch expenses. Source: Financial Express

Infosys has received a pre-show cause notice for alleged GST evasion amounting to ₹32,403 crore.
The notice, issued by Karnataka GST authorities, covers the period from July 2017 to March 2022.
Infosys claims GST is not applicable to expenses incurred by its overseas branches, citing a recent circular.
The company asserts it has paid all GST dues and remains compliant with regulations.
GST Intelligence alleges Infosys owes IGST under the reverse charge mechanism for overseas branch expenses.

Source: Financial Express

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ZoomyDonut

Stealth16mo

LOL, point to note is that infosys provides tech support for GST😂😂😂

PrancingPotato

Stealth16mo

Some code modifications from back end and there you go…no more liability on Infosys 🤣🤣🤣

FloatingCupcake

TCS16mo

In order for the Indian economy to compete with other developed nations and China, our businesses like Infosys should contribute more taxes to govt and should not think in a miserly way for the greater good😂.They should pay 32000 crores just like their employees who work with passion and rigor for the country 12 hrs a day.