Quick Summary
In response to recent media reports, Infosys Ltd. has clarified that there is no tax demand currently raised against the company and that a writ petition challenging the Directorate General of GST Intelligence's (DGGI) show-cause notice is pending before the Karnataka High Court. The clarification, filed with the stock exchanges on Thursday, addressed reports claiming that the IT services major was facing a Rs 415 crore tax notice over alleged ineligible input tax credit (ITC) refunds. Infosy
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience.
FAQ :
No, Infosys has clarified that there is no tax demand currently raised against the company. They have filed a petition challenging a show-cause notice from the DGGI.
The DGGI issued a show-cause notice amounting to Rs 414.88 crore, alleging that services rendered by Infosys's overseas branches do not qualify as 'export of services' under GST law, thus questioning the eligibility for refunds.
Infosys has filed a writ petition in the Karnataka High Court challenging the validity of the DGGI's show-cause notice.
Infosys has stated that there is no material impact of this reported issue on its operations or financial position.
Yes, Infosys has reiterated that it has always been fully compliant with all applicable central and state laws regarding GST refunds.
CAclubindia
