– Infosys has received communication from Karnataka State Authorities withdrawing pre-show cause notice regarding GST claim
– Authorities have directed Infosys to submit further response to DGGI central authority
– Infosys shares trading 1% lower following update
– Karnataka GST authorities issued Rs 32,403 crore notice for services availed by Infosys from overseas branches
– Infosys believes expenses should not be subject to GST, citing recent circular from Central Board of Indirect Taxes and Customs
– Infosys maintains it has paid all GST dues and is in compliance with regulations
– Nasscom defends Infosys, stating tax demand reflects misunderstanding of industry’s operating model
– Nasscom argues authorities issuing notices for remittance without actual service between head office and foreign branch
– Nasscom urges enforcement actions to align with GST Council recommendations to avoid uncertainty and negative impact on ease of doing business.