Infosys Faces GST Demand of Rs 37.75 Lakh including Interest and Penalties


Quick Summary
IT giant Infosys has received a demand order from tax authorities for Rs 37.75 lakh, comprising Goods and Services Tax (GST), interest, and penalties. The demand stems from an alleged failure to receive foreign inward remittances for export proceeds between October and November 2021. However, Infosys has assured stakeholders that this will not significantly affect its financials or operations.

In a recent regulatory disclosure, Infosys has confirmed that it has received a demand order from tax authorities, which includes the collection of Goods and Services Tax (GST), along with interest and penalties. The total demand, including the penalty, amounts to Rs 37.75 lakh.

Breaking down the demand order, it comprises Integrated Goods and Services Tax (IGST) of Rs 26.5 lakh, accompanied by a penalty of Rs 2.65 lakh and an interest amounting to Rs 8.6 lakh. The tax authorities have raised this demand due to the alleged non-receipt of foreign inward remittances related to export proceeds during the period between October 2021 and November 2021, as outlined by Infosys in its regulatory filing with the Bombay Stock Exchanges.

Infosys GST Demand: Rs 37.75 Lakh Tax Bill

Despite this development, Infosys remains resolute that there will be no substantial impact on its financials, operational activities, or any other aspects of the company. The firm has provided this assurance regarding the effect of the demand order on its operations and financial standing

FAQ :

The total GST demand against Infosys, including interest and penalties, amounts to Rs 37.75 lakh.

The demand comprises Rs 26.5 lakh in Integrated Goods and Services Tax (IGST), Rs 2.65 lakh in penalty, and Rs 8.6 lakh in interest.

The demand order was issued because of the alleged non-receipt of foreign inward remittances related to export proceeds for the period between October 2021 and November 2021.

Infosys has stated that there will be no substantial impact on its financials, operational activities, or any other aspects of the company due to this demand order.

The period in question for the alleged non-receipt of foreign inward remittances was between October 2021 and November 2021.




News posted by

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Comments :


More »


Popular News





CCI Pro



Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details