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Karnataka authorities have withdrawn GST notice: Infosys
YourStory
·
11m ago
Medial
Infosys, India's second largest IT company, announced that Karnataka state authorities have withdrawn the 'pre-show cause' notice demanding Rs 32,403 crores in GST payment. The company was directed to submit further response to the Directorate General of GST Intelligence (DGGI) regarding the issue. Infosys maintained that it believes GST is not applicable to the expenses mentioned in the notice. Apex IT body Nasscom commented that the tax demand reflects a lack of understanding of the industry's operating model and highlighted sector-wide issues facing multiple companies in terms of litigation and uncertainty.
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Related News
Karnataka GST authorities ask Infosys to file fresh response to DGGI after recalling notice
YourStory
·
11m ago
Medial
The Karnataka authorities have withdrawn the pre-show cause notice served to Infosys and asked the IT company to submit a fresh response to the Directorate General of GST Intelligence (DGGI) regarding a GST demand of around Rs 32,400 crore. Infosys had received the notice for services availed by its overseas branches for five years since 2017 but maintained that it believes GST is not applicable to these expenses. The company has committed to responding to the notice. The massive demand is equivalent to over a year's profit for Infosys.
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DGGI closing pre-show cause GST notice proceedings of Rs 3,898 cr for 2017-18: Infosys
YourStory
·
11m ago
Medial
Infosys, India's second-largest IT services company, received communication from the Directorate General of GST Intelligence (DGGI) closing the pre-show cause notice proceedings for the financial year 2017-2018. The notice amounted to INR 3,898 crore ($522 million). Earlier in the week, Infosys received a INR 32,403-crore ($4.34 billion) GST notice from authorities. DGGI is responsible for improving compliance with indirect tax laws in India. Infosys believes that GST is not applicable to the mentioned expenses and has paid all its dues.
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Zomato receives GST demand worth ₹23.26 crore from Karnataka govt
Inshorts
·
1y ago
Medial
Zomato has received a demand notice worth ₹23.26 crore from GST authorities of Karnataka government. The demand, which includes penalty worth ₹1.12 crore and interest worth ₹10.86 crore on GST of ₹11.27 crore, has been raised for excess availment of input tax credit. Zomato said it had clarified with relevant documents, "which appear to not have been appreciated by authorities".
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Deepinder Goyal's Zomato gets Rs 23 crore tax notice from Karnataka tax authorities
IndianStartupNews
·
1y ago
Medial
Food delivery platform Zomato has received a tax notice amounting to INR 23.26 crore ($3.11 million) for the financial year 2018-19 from Karnataka tax authorities. The notice alleges that Zomato overutilised input tax credit and demands a GST payment of INR 11.27 crore, plus interest and penalties. This follows a recent INR 8.6 crore GST penalty notice from Gujarat authorities and a show cause notice from the Directorate General of GST Intelligence. Zomato plans to challenge the order and remains confident in its position. Despite these tax challenges, Zomato reported its second consecutive profitable quarter for Q2 2023-24.
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Dream11 withdraws plea challenging Rs1,200 cr tax notice
Livemint
·
1y ago
Medial
Fantasy sports company Dream11 has withdrawn its petition challenging notices of alleged tax evasion amounting to ₹1,200 crore in the Bombay High Court. The state goods and services tax (GST) authority had withdrawn its show cause notice on Dream11 as the Central GST authorities were pursuing the matter in the Supreme Court. The gaming company was asked to pay a 28% tax on its gross value, with the company arguing that online fantasy sports gaming predominantly involves skill and not gambling.
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Zomato To Pay INR 9.85 Cr To West Bengal GST Authorities
Inc42
·
10m ago
Medial
Zomato has received a GST notice from tax authorities in West Bengal for the period April 2020 to March 2021. The notice includes demands for GST payment, penalties, and non-payment of GST on delivery charges. Despite believing that they have a strong case on merits, Zomato has stated that they will pay the required amounts to the GST authorities. This is the second GST notice that Zomato has received in West Bengal.
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Zomato gets ₹9.45 crore GST notice, plans to appeal against tax order | Mint
Livemint
·
1y ago
Medial
Food delivery provider Zomato has received a Goods and Services Tax (GST) demand notice of INR 9.45 crore from tax authorities in Karnataka, India. The notice includes a GST amount of INR 5.01 crore, along with interest charges and penalties. Zomato plans to appeal the order as it believes it has a strong case. This is not the first time the company has faced a tax notice, as it received a similar demand for payment in 2021.
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40 online gaming firms to get notices for tax evasion: Report
Inshorts
·
1y ago
Medial
About 40 online gaming firms will get show-cause notices for alleged tax evasion after the Supreme Court stayed a Karnataka High Court order quashing a ₹21,000-crore GST evasion notice to Gameskraft, Moneycontrol reported. Since activities of Gameskraft and other gaming firms are identical, authorities had held back notices. Two ₹3,000-crore tax evasion notices have already been sent to two firms.
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Karnataka GST authorities write to 161 online gaming firms, ask them to apply revised rate
Economic Times
·
1y ago
Medial
Karnataka GST authorities have written to 161 online gaming firms asking them to collect GST at a revised rate of 28% on the full face value of bets in online real money games, effective from October 1. The authorities want to ensure that the companies are aware of the recent amendments to the GST laws and have them diligently collect taxes as per the new rate. This move is expected to increase tax revenues in Karnataka by about Rs 1,500 crore annually.
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Nasscom bats for Infosys, says Rs 32k Cr GST notice shows lack of understanding of industry model
YourStory
·
11m ago
Medial
Nasscom, the apex IT association, has voiced its support for Infosys in response to the company's Rs 32,403-crore GST notice. Nasscom argues that the notice displays a lack of understanding of the IT industry's operating model and calls for clarity in compliance obligations to avoid unnecessary litigation. It emphasizes the importance of an enabling policy environment for accelerating service exports and attracting global tech investments to India. The GST notice issued to Infosys covers services availed from its overseas branches, but Infosys contends that these expenses are not subject to GST.
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