Quick Summary
Infosys Limited, the global IT consulting firm, has addressed recent allegations regarding the non-payment of Goods and Service Tax (GST) related to expenses incurred by its overseas branches. In a stock exchange filing on Wednesday, the company reaffirmed its adherence to GST regulations and clarified its payment status. In response to a pre-show cause notice issued by the Karnataka State GST authorities, Infosys confirmed it had been asked to pay GST amounting to Rs. 32,403 crores for the per
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FAQ :
Infosys has been issued a pre-show cause notice by Karnataka State GST authorities for an alleged non-payment of Goods and Service Tax (GST) amounting to Rs. 32,403 crores for expenses incurred by its overseas branches between July 2017 and March 2022.
Yes, Infosys has formally responded to the pre-show cause notice issued by the Karnataka State GST authorities and is also actively responding to a similar notice from the Director General of GST Intelligence.
No, Infosys has stated that GST is not applicable to these expenses under current regulations, citing a recent circular from the Central Board of Indirect Taxes and Customs.
Infosys has assured stakeholders that it has complied with all central and state GST regulations and has paid all its dues, reiterating its commitment to regulatory compliance and transparency.
Infosys is relying on Circular No. 210/4/2024 issued by the Central Board of Indirect Taxes and Customs on June 26, 2024, which clarifies that services provided by overseas branches to the Indian entity are not subject to GST.
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