DGGI issues Rs 415 crore showcause notice to Infosys over alleged ineligible ITC refunds

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Mumbai: The Directorate General of GST Intelligence (DGGI) has issued a showcause notice to rel=”dofollow” href=”https://economictimes.indiatimes.com/infosys-ltd/stocks/companyid-10960.cms” target=”_blank”>Infosys for allegedly claiming ineligible refunds of input tax credit (ITC) of ₹414.88 crore on export of services between 2018-19 and 2023-24.

The probe stems from intelligence suggesting that the country’s second-largest software services firm had included services rendered by its overseas branches and subcontractors as part of its zero-rated export turnover from India, thereby availing excess refunds under Section 54 of the Central GST Act, 2017.

rel=”dofollow” href=”https://economictimes.indiatimes.com/infosys-ltd/stocks/companyid-10960.cms” target=”_blank”>Infosys…



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DGGI issues Rs 415 crore showcause notice to Infosys over alleged ineligible ITC refunds


Mumbai: The Directorate General of GST Intelligence (DGGI) has issued a showcause notice to rel=”dofollow” href=”https://economictimes.indiatimes.com/infosys-ltd/stocks/companyid-10960.cms” target=”_blank”>Infosys for allegedly claiming ineligible refunds of input tax credit (ITC) of ₹414.88 crore on export of services between 2018-19 and 2023-24.

The probe stems from intelligence suggesting that the country’s second-largest software services firm had included services rendered by its overseas branches and subcontractors as part of its zero-rated export turnover from India, thereby availing excess refunds under Section 54 of the Central GST Act, 2017.

rel=”dofollow” href=”https://economictimes.indiatimes.com/infosys-ltd/stocks/companyid-10960.cms” target=”_blank”>Infosys…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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