Infosys clarifies on Rs 415 crore show cause notice by DGGI

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Infosys clarified that there are no pending Goods and Services Tax (GST) demands against it regarding ineligible input tax credit (ITC) refunds, according to an exchange filing on Thursday.

The statement comes a day after the Directorate General of GST Intelligence (DGGI) issued a show cause notice to the Indian IT major for Rs 415 crore over alleged ineligible ITC refunds.

The show cause notice issued by DGGI alleged that the services Infosys provided on foreign soil cannot be classified as export of services, and hence does not qualify for ITC…



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Infosys clarifies on Rs 415 crore show cause notice by DGGI



Infosys clarified that there are no pending Goods and Services Tax (GST) demands against it regarding ineligible input tax credit (ITC) refunds, according to an exchange filing on Thursday.

The statement comes a day after the Directorate General of GST Intelligence (DGGI) issued a show cause notice to the Indian IT major for Rs 415 crore over alleged ineligible ITC refunds.

The show cause notice issued by DGGI alleged that the services Infosys provided on foreign soil cannot be classified as export of services, and hence does not qualify for ITC…



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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