Infosys has received a Rs 32,403 crore GST notice from Karnataka authorities for services from its overseas branches spanning July 2017 to March 2022. The IT firm contends that GST does not apply to these expenses, citing a recent Central Board of Indirect Taxes and Customs circular that exempts such services. The Directorate General of GST Intelligence alleges Infosys didn’t pay IGST on imported services, affecting its financials. For comparison, Infosys’ recent quarterly profit was Rs 6,368 crore, while the GST demand exceeds its annual profit.
