Govt to not go easy on Infosys over Rs 32,000 cr GST demand
New Delhi: The government is not considering any relaxation of the tax demand sent to Infosys last month, Reuters reported, citing a government source.
The tax demand aligns with goods and services tax rules, and the country's second-largest IT services firm has requested ten days to respond after meeting with tax officials, the source said.
The source wished to remain anonymous as they were not authorized to speak to the media.
India issued a tax demand of over Rs 32,000 crore ($4 billion) to Infosys, related to services received from its overseas branches between July 2017 and 2021-22.
This amount represents 85 percent of the company's revenue for the quarter ended June 30.
In a notification to stock exchanges on August 3, Infosys stated that it received communication indicating the closure of the demand for the financial year 2017-18, which was Rs 38,980 crore.
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