 "Govt to not give any relaxation in its Rs 32,000 cr GST demand on Infosys | Company News")
The company said it has received communication that the demand for the financial year 2017-18.
The Indian government is not considering any relaxation in the tax demand it sent to Infosys last month, according to a government source.
The tax demand is in accordance to the good and services tax rules and the country’s second-largest IT services firm has sought ten days to submit its response after meeting tax officials, the source said.
The source declined to be named as they were not authorised to speak to the media.
Shares of Infosys, which were up 1.6 per cent before the news amid a broader market rebound, briefly trimmed gains to about 0.3 per cent after the news. They were last up 1.2 per cent.
In a notification to stock exchanges on Aug. 3, the company said it has received communication that the demand for the financial year 2017-18 of Rs 38,980 crores has been closed.
The company had previously said it paid all its dues and is in compliance with central and state regulations.
India’s finance ministry and Infosys did not immediately respond to an emailed request for comment.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 06 2024 | 12:33 PM IST
