Infosys' ₹32,000-crore tax demand not to be relaxed by government: Report
4 months, 2 weeks ago

Infosys' ₹32,000-crore tax demand not to be relaxed by government: Report

Hindustan Times  

The government is not considering any relaxation over the ₹32,000-crore tax demand it sent to Infosys Ltd, news agency Reuters citing sources in the know. The tax demand on Infosys is in accordance to GST rules and the company has sought ten days to submit its response after meeting tax officials, the report claimed. Last week GST authorities slapped a ₹32,403 crore notice on Infosys for services availed by the company from its overseas branches for five years starting 2017. Apex IT body Nasscom also said that the latest tax demand reflects a lack of understanding of the industry’s operating model and asserted that government circulars issued based on recommendations of the GST Council must be honoured.

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History of this topic

GST: Infosys, foreign airlines, shipping lines may see relief as concerns rise for ‘ease of doing business’, says report
4 months ago

GST: Infosys, foreign airlines, shipping lines may see relief as concerns rise for ‘ease of doing business’, says report

Live Mint  

The Centre is likely to give some GST relief to corporates, including IT major Infosys, foreign airlines and foreign shipping lines, amid growing concerns over ease of doing business, CNBC-TV18 reported, citing sources. It added that the Directorate General of GST Intelligence's spree of notices to Infosys, foreign airlines, and shipping lines is also in focus. Group of Ministers meets …

Infosys gets ₹3,898 crore partial GST tax relief for FY 2017-18 out of the ₹32,403 crore tax notice for 2017-22
4 months, 2 weeks ago

Infosys gets ₹3,898 crore partial GST tax relief for FY 2017-18 out of the ₹32,403 crore tax notice for 2017-22

Hindustan Times  

Infosys Ltd has been given a tax relief of ₹3,898 crore for the financial year 2017-18, the IT major wrote in a company filing to the exchanges on Saturday. Infosys Ltd has been given a tax relief of ₹ 3,898 crore for the financial year 2017-18 “The Company had received and responded to a pre-show cause notice issued by DGGI …

Infosys says Karnataka authorities have withdrawn ₹32,403 crore GST tax notice
4 months, 3 weeks ago

Infosys says Karnataka authorities have withdrawn ₹32,403 crore GST tax notice

Hindustan Times  

Infosys informed that Karnataka State Authorities have withdrawn the 'pre-show cause' notice and directed the IT firm to submit a further response to the DGGI central authority on the matter. This comes after India's second-largest IT services company said Karnataka GST authorities slapped a ₹32,403 crore notice. Additionally, as per a recent Circular.issued by the Central Board of Indirect Taxes …

Karnataka Authorities Have Withdrawn GST Notice: Infosys
4 months, 3 weeks ago

Karnataka Authorities Have Withdrawn GST Notice: Infosys

News 18  

A day after it received Rs 32,403 crore GST demand, Infosys on Thursday said Karnataka state authorities have withdrawn the ‘pre-show cause’ notice to the company and directed it to submit further response to the Directorate General of GST Intelligence on the issue. In a late evening filing on Thursday, Infosys informed: “The company has received a communication from Karnataka …

After ₹32,000 crore demand to Infosys, government said to mull GST notices to other IT majors
4 months, 3 weeks ago

After ₹32,000 crore demand to Infosys, government said to mull GST notices to other IT majors

The Hindu  

Tax authorities may issue notices soon to more major infotech services firms in a scrutiny of alleged evasion of tax on services by their overseas offices, a government source said, a day after Infosys was slapped with a ₹32,000-crore tax demand. In serving its highest-ever tax demand on Infosys, the government accused the country’s second largest tech services company of …

Infosys slapped with ₹32,403 crore GST notice for overseas expenses
4 months, 3 weeks ago

Infosys slapped with ₹32,403 crore GST notice for overseas expenses

The Hindu  

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. 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 …

Infosys share price falls 1% as company gets ₹32,000 crore GST evasion notice: What IT major said
4 months, 3 weeks ago

Infosys share price falls 1% as company gets ₹32,000 crore GST evasion notice: What IT major said

Hindustan Times  

Infosys shares fell almost 1 per cent today after the IT major received a GST notice citing a ₹32,000 crore tax evasion. The Directorate General of GST Intelligence said that Infosys is “liable to pay IGST under reverse charge mechanism on supplies received from branches located outside India to the tune of ₹32,403.46 crores for the period 2017-18 to 2021-22.” …

Finance Minister bats for swift clarity on GST classification issues
9 months, 2 weeks ago

Finance Minister bats for swift clarity on GST classification issues

The Hindu  

Finance Minister Nirmala Sitharaman on Monday stressed the urgent need to bring clarity on classification-related issues under the Goods and Services Tax regime, urging tax officials to look into the issue “at the earliest through appropriate channels”. Addressing the first-ever ‘National Conference of Enforcement Chiefs of State and the Central GST Formations’ that will be held twice a year going …

Dabur gets GST demand notice of ₹320.6 crore
1 year, 2 months ago

Dabur gets GST demand notice of ₹320.6 crore

Live Mint  

FMCG major Dabur has received a Goods and Service Tax demand notice of ₹320.6 crore, a regulatory filing stated on October 17, adding that the company is reviewing the intimation and evaluating the next steps in this matter. “The company has received intimation of tax ascertained as being payable under Section 74 of CGST Act, 2017, wherein GST short paid/not …

Infosys Q1 Results: FY24 revenue guidance sharply trimmed to 1-3.5% from 4-7%
1 year, 5 months ago

Infosys Q1 Results: FY24 revenue guidance sharply trimmed to 1-3.5% from 4-7%

Live Mint  

India’s second-largest information technology company Infosys Ltd announced its April-June quarter results for fiscal 2023-24 on July 20, sharply trimming its revenue guidance to 1-3.5 per cent for FY24 from 4-7 per cent amid an increasingly challenging demand environment. Infosys reported a rise of 11 per cent in net profit to ₹5,945 crore, compared to ₹5,360 crore in the corresponding …

Infosys says some users continue to face difficulties, working to streamline I-T portal experience
3 years, 3 months ago

Infosys says some users continue to face difficulties, working to streamline I-T portal experience

India TV News  

IT major Infosys on Thursday acknowledged that some users continue to experience difficulties in accessing the income tax portal and assured that it is working expeditiously, in collaboration with the Income Tax Department, to further streamline end-user experience. The Bengaluru-based company, which has drawn flak for glitches continuing months after the launch of the portal in June, said it has …

Role of Infosys in India's Development Crucial, 'Panchajanya' Not Mouthpiece of Sangh, Says RSS
3 years, 3 months ago

Role of Infosys in India's Development Crucial, 'Panchajanya' Not Mouthpiece of Sangh, Says RSS

News 18  

Sunil Ambekar, all-India publicity in-charge of RSS, on Sunday sought to distance the Sangh from the Panchajanya-Infosys controversy, saying the role of the IT giant in India’s development was critical. In an unprecedented attack on IT major Infosys, RSS-affiliated magazine Panchajanya alleged that the Bengaluru-based company may be deliberately trying to destabilise the Indian economy and accused it of helping …

RSS-Linked Journal Accuses IT Giant Infosys of Allying With 'Naxals, Tukde-Tukde Gang'. Here's Why
3 years, 3 months ago

RSS-Linked Journal Accuses IT Giant Infosys of Allying With 'Naxals, Tukde-Tukde Gang'. Here's Why

News 18  

In an unprecedented attack on IT major Infosys, RSS-affiliated magazine Panchajanya alleged that the Bengaluru-based company may be deliberately trying to destabilise the Indian economy and accused it of helping ‘Naxals, Leftists and tukde tukde gang’. The Sangh-linked magazine was slammming Infosys for issues surrounding the Goods and Services Tax portal and the new Income Tax portal of the government …

Panchajanya attacks Infosys on Income Tax portal glitches
3 years, 3 months ago

Panchajanya attacks Infosys on Income Tax portal glitches

The Hindu  

The issues surrounding the Goods and Services Tax portal and the new Income Tax portal of the government of India, developed by the Bengaluru-based software company Infosys, has come under a scathing attack by the RSS-associated magazine Panchajanya. More interestingly, the article then alleges that the Infosys Trust finances many “Left wing” outfits, including fact checking outfits, media portals, that …

Why Infosys Alone Can't be Blamed for Frequent Glitches on Income Tax Filing Portal
3 years, 4 months ago

Why Infosys Alone Can't be Blamed for Frequent Glitches on Income Tax Filing Portal

News 18  

As if India’s image as an investment destination hasn’t suffered enough, the Income Tax department has added its might to make things appear even worse. “Ministry of Finance has summoned Sh Salil Parekh,MD&CEO @Infosys on 23/08/2021 to explain to hon’ble FM as to why even after 2.5 months since launch of new e-filing portal, glitches in the portal have not …

Infosys Acknowledged Technical Issues in New Income Tax E-filing Portal: FinMin
3 years, 5 months ago

Infosys Acknowledged Technical Issues in New Income Tax E-filing Portal: FinMin

News 18  

Infosys has acknowledged the technical issues in the new Income Tax portal and some of the initial glitches like slow functioning of the portal and non-availability of certain functionalities have been mitigated, Parliament was informed on Tuesday. In a written reply to a question in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said more than 700 e-mails …

Infosys to resolve major issues with new tax filing portal in a week
3 years, 6 months ago

Infosys to resolve major issues with new tax filing portal in a week

Business Standard  

Infosys to resolve major issues with new tax filing portal in a week Sitharaman asked Infosys to work on the tax portal to make it more "humane and user-friendly" Premium The move comes after FM took cognizance of the problems faced by taxpayers with the I-T portal 2.0, following complaints flooding her Twitter timeline since its launch on June 7 …

Traders urge Finance minister, GST council to modify new GST notification
3 years, 11 months ago

Traders urge Finance minister, GST council to modify new GST notification

India TV News  

Trading community on Sunday urged Union Finance Minister Nirmala Sitharaman and Goods and Goods and Services Tax Council to withdraw certain provisions of the new GST notification issued a few days back. In a memorandum, Federation of All India Vyapar Mandal- a national body of small traders - advocating for a single-point GST collection, urged for certain changes in the …

Infosys Q2 Net Profit Up 20.5% at Rs 4,845 Cr, Announces Pay Hike with 100% Variable Pay to Employees
4 years, 2 months ago

Infosys Q2 Net Profit Up 20.5% at Rs 4,845 Cr, Announces Pay Hike with 100% Variable Pay to Employees

News 18  

India’s second-largest IT services company Infosys on Wednesday said its consolidated net profit grew by 20.5 per cent to Rs 4,845 crore for the September quarter, and it has raised revenue forecast to 2-3 per cent for FY21. The Bengaluru-based company’s revenues rose 8.5 per cent to Rs 24,570 crore in the quarter under review, from Rs 22,629 crore in …

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