Taxman puts Infosys on notice for over ₹32,000 crore
Taxman puts Infosys on notice for over ₹32,000 crore posted by Nilesh Waghela Mumbai: Tax authorities on Wednesday flagged indirect tax evasion of ₹32,403 crore at Bengaluru-based Infosys Ltd over services provided by its overseas branches, in one of the largest cases since the debut of the goods and services tax (GST) regime more than seven years ago. Infosys, India's second-largest technology services provider, said it believes the tax does not apply to the services in question. A Directorate General of GST Intelligence (DGGI) note said it is investigating the technology bluechip for evasion of integrated goods and services tax (IGST) over a five-year period till FY22. It said the IT giant set up branch offices abroad for carrying out business and included the expenses it incurred towards these overseas branches as part of its export invoice from India. Distinct persons under IGST Act As Infosys creates overseas branches to service clients as part of its agreement wi...