Infosys gets huge relief on GST as DGGI closes ₹32,400-crore pre-show cause notice
The Hindu
Infosys relieved as ₹32,403 crore GST notice closed, ending year-long saga, exceeding annual profits, significant relief for tech major.
In a major relief for Infosys, the Director General of GST Intelligence has closed pre-show cause notice proceedings against the company for financial years 2018-19 to 2021-22 involving a staggering ₹32,403 crore in GST dues.
The latest move effectively ends nearly a year-long GST saga for India's second-largest IT services firm.
Mid-last year, the goods and services tax (GST) authorities had slapped ₹32,403 crore notice on Infosys for services availed by the company from its overseas branches for five years starting 2017.
The GST demand, in fact, exceeds Infosys’s annual profits — Infosys’s net profit for full FY25 stood at ₹26,713 crore — and its closure now is bound to come as a significant relief for the tech major.
Also Read | After ₹32,000 crore demand to Infosys, government said to mull GST notices to other IT majors
The Bengaluru-headquartered company, in a BSE filing, said with the receipt of the latest communication from DGGI "this matter stands closed".
“In continuation to our earlier communications on July 31, 2024, August 1, 2024 and August 3,2024 on GST, this is to inform that the company has today received a communication from the Director General of GST Intelligence (DGGI) closing the pre-show cause notice proceedings for the financial years 2018-19 to 2021-22,” the company said in the filing late Friday (June 6, 2025) evening.
Explore the volatility of the Indian Rupee against the U.S. Dollar in 2025, driven by trade uncertainties and market pressures.
Silver futures soar 6% to ₹2.54 lakh/kg, crossing $80/ounce globally amid bullish trends and strong investor demand.
Stock markets gained momentum after a slow start, with Sensex rising 105.17 points and Nifty up 35 points.
Rupee dips 5 paise to 89.95 against the dollar amid foreign fund outflows and a sluggish equity market opening.
Direct flights from Chennai and Coimbatore to Navi Mumbai airport start December 29, enhancing travel options for passengers.
Survey highlights alarming harassment practices by banks in India, revealing widespread intimidation and threats during loan recovery efforts.
Akum Pharma's finance chief Rajkumar Bafna resigns, citing Delhi's severe pollution as his reason for departure.
Seven of India’s top-10 firms saw a combined market cap drop of ₹35,439.36 crore last week, led by SBI and Reliance Industries, while HDFC Bank, Infosys gained.
PMO directs Coal India to list all subsidiaries by 2030 to improve governance, transparency, and unlock asset value.
The Hindu explains: What are the signals from the Indian economy?
In the next five years, technologies like energy storage and green hydrogen would fundamentally reshape India’s renewable energy ecosystem, says a top company official.
Historically, energy security for the world’s third-largest oil consumer India has been about navigating the prevailing geopolitics whilst ensuring a positive economics for purchase of crude oil purchases.
India leverages trade agreements with RCEP countries, strategically avoiding risks associated with China while maximizing market access.