CosmicTaco

Karnataka Authorities Withdraw GST Notice Sent to Infosys

CosmicTaco · 2024-08-02T16:42:02.741787+05:30

- Infosys has been temporarily relieved of the Rs 32,403 crore GST demand as Karnataka state tax authorities withdraw the notice. - The company has been directed to respond to the central GST intelligence agency instead. - Infosys informed stock exchanges about the withdrawal and the directive to submit further response to the Directorate General of GST Intelligence (DGGI). - The controversy began on July 31 when Infosys was accused of evading GST on services from its overseas branches between 2017 and 2022, which the company denied. - NASSCOM supported Infosys, raising concerns about the impact on business sentiment and emphasizing the need for clarity in tax regulations to avoid such disputes. Source: Times Of India

Infosys has been temporarily relieved of the Rs 32,403 crore GST demand as Karnataka state tax authorities withdraw the notice.
The company has been directed to respond to the central GST intelligence agency instead.
Infosys informed stock exchanges about the withdrawal and the directive to submit further response to the Directorate General of GST Intelligence (DGGI).
The controversy began on July 31 when Infosys was accused of evading GST on services from its overseas branches between 2017 and 2022, which the company denied.
NASSCOM supported Infosys, raising concerns about the impact on business sentiment and emphasizing the need for clarity in tax regulations to avoid such disputes.

Source: Times Of India

16mo ago