Karnataka Authorities Have Withdrawn GST Notice: Infosys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Karnataka Authorities Have Withdrawn GST Notice: Infosys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A day after it received Rs 32,403 crore GST demand, Infosys on Thursday said Karnataka state authorities have withdrawn the ‘pre-show cause’ notice to the company and directed it to submit further response to the Directorate General of GST Intelligence on the issue.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 State authorities, withdrawing the pre-show cause notice and has directed the company to submit further response to DGGI central authority on this matter.” The Bengaluru-headquartered firm on Wednesday disclosed that Karnataka State GST authorities had issued a pre-show cause notice for payment of GST of Rs 32,403 crore for the period July 2017 to March 2022 towards the expenses incurred by overseas branch offices of Infosys Limited, and added that the company has responded to the notice. “…the Company has also received a pre-show cause notice from Director General of GST Intelligence on the same matter and the Company is in the process of responding to the same,” Infosys had said in the statutory filing on Wednesday. In a detailed statement issued a day after Infosys’ BSE filing on GST ‘pre-show cause’ notice, Nasscom asserted that government circulars issued based on recommendations of the GST Council must be honoured in enforcement mechanisms so that notices do not create uncertainty and negatively impact perceptions on India’s ease of doing business.

India Karnataka Company Crore Gst Authorities Infosys Cause Notice Gst Authorities Karnataka State  infosys  crore  karnataka  company  preshow  gst  rs  authorities  cause  notice  overseas  withdrawn

History of this topic

Research funds totally exempt from GST, notices sent to private institutions like IIT, Anna, Punjab University no longer to be sought
3 months, 1 week ago

Research funds totally exempt from GST, notices sent to private institutions like IIT, Anna, Punjab University no longer to be sought

Op India  

Following the GST Council’s decision to exempt central and state-governed higher education institutions from settling GST on their research funding, notices issued to some prominent institutions, including IIT-Delhi, Anna University, and Punjab University, concerning their outstanding GST pays will no longer be sought out. “The recent exemption of GST on research grants in educational institutions has been broadly welcomed within …

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' ₹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 …

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 …

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.” …

GST relief may hit state finances
5 months ago

GST relief may hit state finances

Deccan Chronicle  

Hyderabad: The GST Council’s decision to provide relief to taxpayers in Telangana could have serious consequences for state finances. The most hard-hitting decision taken at the 53rd meeting of the Council was the relief extended to taxpayers for the financial years 2017-18 to 2019-20 waving interest and penalty on tax demands under Section 73. This step will benefit tax payers …

BJP Government Did Not Rectify Injustice Meted out To Karnataka Alleges CM In His Budget
10 months, 1 week ago

BJP Government Did Not Rectify Injustice Meted out To Karnataka Alleges CM In His Budget

Deccan Chronicle  

Bengaluru: Chief Minister Siddaramaiah pointed out that Central Government led by Bharatiya Janata Party had meted out three injustices to States including Karnataka such as “unscientific” implementation of Goods and Services Tax, increase in Cesses and Surcharges and change in allocation of formula in tax devolution and grants-in-aid, adversely affected the financial strength of the State. Siddaramaiah accused the previous …

Detected GST evasion of ₹57,000 crore since April 2020: Finance ministry
1 year, 2 months ago

Detected GST evasion of ₹57,000 crore since April 2020: Finance ministry

Hindustan Times  

NEW DELHI: The Directorate General of GST Intelligence has detected Goods and Services Tax evasion of ₹57,000 crore from April 2020 to September 2023 involving over 6,000 fake instances of input tax credit claims leading to the arrest of 500 people, a finance ministry statement said on Wednesday. Detected GST evasion of ₹ 57,000 crore since April 2020: finance ministry …

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 …

Show cause notices to e-gaming cos as per legal provisions, GST demand based on data analysis: CBIC chief
1 year, 2 months ago

Show cause notices to e-gaming cos as per legal provisions, GST demand based on data analysis: CBIC chief

The Hindu  

E-gaming companies have been issued show cause notices for alleged GST evasion as per legal provisions, the head of Central Board of Indirect Taxes and Customs Sanjay Kumar Agarwal said on September 28, adding that the tax demanded is based on analysis of data. Since then, online gaming companies like Dream11 and casino operator Delta Corp have received show cause …

UP labourer gets GST notice on 'Rs 1.36 crore turnover', case registered in Noida
1 year, 5 months ago

UP labourer gets GST notice on 'Rs 1.36 crore turnover', case registered in Noida

India Today  

The Gautam Buddha Nagar Police filed a case following a complaint from a laborer in Bulandshahr who claimed that he had received a GST notice suggesting that his businesses had generated a turnover of Rs 1.36 crore in 2022-23 fiscal. The labourer, Devendra Kumar, 22, a resident of Udaygarhi Bangar under Naraura police station in Uttar Pradesh, also stated that …

ICICI Prudential Life Insurance gets show cause cum demand notice from DGGI
1 year, 5 months ago

ICICI Prudential Life Insurance gets show cause cum demand notice from DGGI

Live Mint  

ICICI Prudential Life on Monday got a notice from the Directorate General of GST Intelligence for not paying tax of Rs.492.06 crore for a period of five years starting from July 2017 till July 2022. The Company said in an exchange filing that it has received a show cause cum demand notice from the Directorate General of GST Intelligence, asking …

100 Important High Court Judgments of GST in 2022
1 year, 11 months ago

100 Important High Court Judgments of GST in 2022

Live Law  

Allahabad High Court: Allahabad High Court Stays GST Demand On Payment Of Royalty To Conduct Mining Activity Case Title: M/s Jitendra Singh versus Union of India The Allahabad High Court bench of Justice Saumitra Dayal Singh has stayed the GST demand on payment of royalty to conduct mining activity. Show Cause Notice Cancelling GST Registration Must Disclose Reason: Allahabad High …

Karnataka HC seeks DGGI response on Gameskraft notice
2 years, 2 months ago

Karnataka HC seeks DGGI response on Gameskraft notice

Live Mint  

New Delhi: The Karnataka High Court has set 11 October as the date for the next hearing in the case of Directorate General of GST Intelligence vs Gameskraft. In a hearing earlier today, the justice SR Krishna Kumar-led bench observed that it cannot issue a stay on the show cause notice that the DGGI has served Gameskraft, without hearing both …

GST Registration Cancellation: Madras High Court Directs Changes In Architecture Of GST Portal
2 years, 2 months ago

GST Registration Cancellation: Madras High Court Directs Changes In Architecture Of GST Portal

Live Law  

The Madras High Court has directed the GST department to take suitable steps by instructing GST Network, New Delhi to make suitable charges in the architecture of the GST Web Portal to allow the petitioners to file their returns and pay the tax/penalty/fine.The single bench of Justice Anitha Sumanth has noted that payment of tax, interest, fine/fee, etc. The Madras …

GST: No Need For FY22 Annual Return if Turnover Up To Rs 2 Crore; UPI Allowed For GSTN Payment
2 years, 5 months ago

GST: No Need For FY22 Annual Return if Turnover Up To Rs 2 Crore; UPI Allowed For GSTN Payment

News 18  

GST Council Recommendations Accepted: The government has exempted registered persons whose aggregate turnover in the financial year 2021-22 was up to Rs 2 crore from filing the annual return for the financial year. Jain said, “The government has granted the exemption to taxpayers with aggregate turnover of up to Rs 2 crore in FY 2021-22 from filing annual return for …

GST Council meet: States' compensation, easier e-comm suppliers' registration, tax tweaks on cards
2 years, 5 months ago

GST Council meet: States' compensation, easier e-comm suppliers' registration, tax tweaks on cards

India TV News  

GST Council meet: The 47th GST Council meeting that is currently underway is slated to discuss a host of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks in some items and relaxed registration norms for small online suppliers. Further, the meeting of the Council, chaired by the Union Finance Minister Nirmala Sitharaman and comprising state …

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 …

GST transactions worth Rs 1 lakh crore being probed
4 years ago

GST transactions worth Rs 1 lakh crore being probed

Hindustan Times  

The Directorate General of Analytics and Risk Management, which mines Goods and Services Tax data to expose tax evaders, has compiled a list of over 12,900 business entities, including some big companies and export firms suspected to have availed of input tax credit through fake invoices worth over Rs 1 lakh crore since July 1, 2017, when the new indirect …

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