Infosys experienced a decline of 0.84% in its share price, settling at ₹1852.30, following a substantial Rs 32,403 crore GST notice issued by the Directorate General of GST Intelligence (DGGI). This notice pertains to GST payments related to expenses incurred by Infosys’s overseas branch offices from July 2017 to March 2022.
The Karnataka State GST authorities have also issued a pre-show cause notice demanding payment of the same amount for the specified period. Infosys has responded to this notice and is preparing a response to the DGGI’s notice. The company contends that GST should not apply to these expenses, citing a recent circular from the Central Board of Indirect Taxes and Customs dated June 26, 2024. This circular clarifies that services provided by overseas branches to Indian entities are exempt from GST.
この記事は The Business Guardian の August 02, 2024 版に掲載されています。
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この記事は The Business Guardian の August 02, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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