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What will be the next major legal or regulatory action taken against Infosys after the GST evasion investigation by end of 2025?
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Resolution / Starting Odds
Another tax-related investigation • 25%
Data privacy or security issue • 25%
Labor or employment dispute • 25%
No major action • 25%
Official announcements from regulatory authorities or Infosys
Story
Infosys Investigated for Alleged Rs 32,403 Crore ($4.2 Billion) GST Evasion
Jul 31, 2024, 02:27 PM
Infosys is under investigation by the Directorate General of GST Intelligence (DGGI) for allegedly evading integrated goods and services tax (IGST) amounting to Rs 32,403.46 crore ($4.2 billion) during the period from July 2017 to 2021-22. The Karnataka State GST authorities have issued a pre-show cause notice to Infosys, claiming the company is liable to pay IGST under the reverse charge mechanism on supplies received from its branches located outside India. Infosys, however, denies the allegations, stating that services incurred by its overseas centers do not fall under the GST ambit, citing a recent circular by the Central Board of Indirect Taxes. The outcome of this investigation could have significant ramifications for the industry.
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