Infosys Receives GST Notice for Alleged Tax Evasion
Technology giant Infosys receives a Goods and Services Tax notice for alleged tax evasion of Rs 32,000 crore. The company is accused of misusing input credit and claiming false refunds.
Wed, 31 Jul 2024
The technology giant Infosys has reportedly received a Goods and Services Tax (GST) notice for alleged tax evasion of Rs 32,000 crore. According to the notice, the company is accused of evading taxes by misusing input credit and claiming false refunds.
As per sources, Infosys has been asked to furnish evidence to justify its transactions and refund claims within a specified timeframe. The development comes as a surprise to many, given Infosys' reputation as one of India's most successful IT companies. The company has not made any public statements on the matter so far, leaving investors and stakeholders wondering about the implications.
🚨 Infosys gets GST notice for alleged tax evasion of Rs 32,000 crore. pic.twitter.com/pOT30eo1aV
— Indian Tech & Infra (@IndianTechGuide) July 31, 2024
The alleged tax evasion is said to have taken place over several years, with Infosys allegedly misusing input credit and claiming false refunds. The GST authorities are now seeking an explanation from the company to clarify the transactions.
As the situation unfolds, it remains to be seen how Infosys will respond to the allegations and whether the company's reputation will be impacted by this controversy. With millions of rupees at stake, this case is likely to attract significant attention in the coming days.
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