Infosys gets no relief from the government on GST collection of Rs 32 thousand crores

The case of Information Technology (IT) sector leader Infosys demanding GST collection of Rs 32 thousand crore has taken another turn.

The government has refused to give any relief to Infosys in collecting this tax. Meanwhile, it has been learned that Infosys has sought ten days to respond to the GST levy of Rs 32 thousand crore after a meeting with tax officials. Last month, the GST department reprimanded Infosys for Rs 32 thousand crore GST collection.

The government will pay Rs. Infosys shares fell 0.3 per cent after the news, which was trading up 1.6 per cent earlier on the news that Infosys will not get any relief on GST collection of Rs 32,000 crore. Eventually, the company's share price rose 1.2 per cent. Infosys was asked to pay GST on services purchased through its overseas branches between July 2017 and 2021-22. The demand for GST collection of Rs 32 thousand crore for the first quarter ended June 30 is 85 per cent of the revenue.