Infosys slapped with ₹32,403 crore GST notice for overseas expenses
The Hindu
Infosys faces ₹32,403 crore GST notice for overseas expenses, claims GST not applicable, and in compliance with regulations.
GST authorities have slapped a ₹32,403 crore notice on Infosys for services availed by the company from its overseas branches for five years starting in 2017.
Infosys, in a stock exchange filing, called the notice a 'pre-show cause' notice and said it believes the GST is not applicable on these expenses.
The Bengaluru-headquartered IT firm said Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of ₹32,403 crore for the period July 2017 to March 2022 towards the expenses incurred by overseas branch offices of Infosys Limited, and added that the company has responded to the pre-show cause notice.
"...the Company has also received a pre-show cause notice from Director General of GST Intelligence on the same matter and the Company is in the process of responding to the same," the filing said.
The company believes that as per regulations, GST is not applicable on such expenses.
"Additionally, as per a recent Circular...issued by the Central Board of Indirect Taxes and Customs on the recommendations of the GST Council, services provided by the overseas branches to Indian entity are not subject to GST," Infosys said.
Infosys argued that GST payments are eligible for credit or refund against export of IT services.
Tamil Nadu commits to enhanced collaboration with the National Green Tribunal for effective environmental governance and protection initiatives.
On Ambedkar's death anniversary, CM Rekha Gupta highlights his enduring ideals of social harmony, equality, and justice.
The Banyan launches the Keshav Desiraju Lived Experience Repository in Chennai to preserve mental illness narratives across various formats.
MetLife Stadium will host the FIFA World Cup 2026 final on July 19, with 104 matches across North America.
Former IAS officer Pradeep Sharma sentenced to five years for money laundering, causing ₹1.20 crore loss to the government.
The Dr. Mrs. YGP Centenary Annual Festival of Music and Dance launched at PSBB, celebrating classical arts and education.
CMC hosts a torch rally with 125 volunteers in Vellore to celebrate 125 years of dedicated service.
Government Women's Polytechnic in Nellore faces urgent repairs, yet funds remain unrequested due to budget constraints, risking student safety.
Author Salma and ‘Ervadi’ S. Radhakrishnan honored with Kaviko award at a ceremony in Vellore, receiving recognition and cash prize.
Mangaluru police arrest four individuals and seize half a kg of MDMA worth ₹50 lakh intended for local youth.
Uddhav Thackeray calls for appointing Leaders of Opposition in Maharashtra Assembly, stressing the need for constitutional compliance ahead of the Winter Session.
Shashi Tharoor highlights English's significance in India, emphasizing its enriched lexicon through Indian word borrowings at a literature festival.
Cricket fans in Vizag enjoyed a thrilling ODI as Kohli, Rohit, and Jaiswal delivered memorable performances for Team India.