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News on Medial
Karnataka GST authorities ask Infosys to file fresh response to DGGI after recalling notice
YourStory
·
1y 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The Karnataka authorities have withdrawn the pre-show cause notice served to Infosys and asked the IT company to submit a fresh response to the Directorate General of GST Intelligence (DGGI) regarding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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Related News
Karnataka authorities have withdrawn GST notice: Infosys
YourStory
·
1y 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Infosys, India's second largest IT company, announced that Karnataka state authorities have withdrawn the 'pre-show cause' notice demanding Rs 32,403 crores in GST payment.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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DGGI closing pre-show cause GST notice proceedings of Rs 3,898 cr for 2017-18: Infosys
YourStory
·
1y 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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Strongly believe we're not liable to pay any tax on delivery charge, says Zomato
Money Control
·
1y ago
Medial
Food tech company Zomato has stated that it is not liable to pay tax on delivery charges as it believes the amount is collected on behalf of its delivery partners. The statement follows a demand notice from the Directorate General of GST Intelligence (DGGI), requesting payment of pending tax dues. DGGI argues that Zomato is liable to pay 18% GST on the delivery fee, but industry experts contend that the burden falls on gig workers, who are exempt from GST. Zomato plans to file a response to the notice and asserts that it has a strong case.
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Nazara Technologies gets Rs 2.83 crore GST show cause notice
Economic Times
·
1y ago
Medial
Nazara Technologies, an online gaming and esports company, has received a show cause notice from the Directorate General of GST Intelligence (DGGI) for a GST demand of Rs 2.83 crore. The demand is related to the export of certain services for which Nazara did not pay GST. The notice states that as export proceeds have not been received due to a force majeure event, the services cannot be treated as exports, and the company is responsible for paying IGST at 18%. Nazara plans to file its response to the notice within the prescribed timelines.
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Zomato receives Rs 402 crore show cause notice over unpaid GST on delivery charges
Economic Times
·
1y ago
Medial
Zomato, the online food ordering platform, has received a Rs 402 crore show cause notice from GST authorities for unpaid tax on delivery charges. The notice was issued by the Directorate General of GST Intelligence (DGGI) and demands the alleged tax liability be paid for the period from October 2019 to March 2022. Zomato argues that it is not liable to pay tax on the delivery charges as they are collected on behalf of the delivery partners. The company will be filing a response to the notice.
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SC stays order quashing ₹21,000-crore GST notice to Gameskraft
BQ Prime
·
1y ago
Medial
The Supreme Court has halted the enforcement of a Karnataka High Court decision that invalidated a ₹21,000-crore show-cause notice issued by the Directorate General of GST Intelligence (DGGI) to Gameskraft Technologies. According to the DGGI, Gameskraft has amassed ₹70,000 crore in betting funds from approximately 45 lakh players over five years. The DGGI also argued that, based on a Supreme Court ruling, games played with stakes are liable to GST.
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Nasscom bats for Infosys, says Rs 32k Cr GST notice shows lack of understanding of industry model
YourStory
·
1y 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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Taxman puts Infosys on notice for over ₹32,000 crore | Mint
Livemint
·
1y ago
Medial
Tax authorities have raised concerns about tax evasion of ₹32,403 crore ($4.3 billion) by India's IT giant, Infosys. The Directorate General of GST Intelligence (DGGI) is investigating the company for non-payment of integrated goods and services tax (IGST) over a five-year period. The investigation focuses on the inclusion of expenses incurred by Infosys' overseas branches as part of its export invoice, which the company believes is not subject to GST. Infosys has stated that it has paid its GST dues and is fully compliant with government regulations. The case has raised concerns about potential litigation and industry-wide implications.
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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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Centre likely to accept Infosys’ plea on GST notice
Livemint
·
1y ago
Medial
The central government of India is likely to accept Infosys' plea that goods and services tax (GST) does not apply to the services it receives from its offshore branch offices. This move could potentially resolve a tax dispute and prevent further litigation. Infosys had received a pre-show cause notice from the Directorate General of GST Intelligence (DGGI), stating that it had not paid ₹32,403.46 crore in IGST over a five-year period. The government's intention to resolve this case quickly aligns with its goal of promoting an investor-friendly environment and attracting investments.
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