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.
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