Govt unlikely to relax its Rs 32,000-crore tax demand on Infosys: Report
The Indian government is not considering any relaxation over the Rs 32,000-crore tax demand it sent to Infosys Ltd, Reuters reported on August 6 citing a government source.
The tax demand on Infosys 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.
Meanwhile, CNBC-TV18 reported on August 6 that Infosys had sought 10 days to reply to the pre-show cause notice after a meeting with Directorate General of GST Intelligence (DGGI) Bengaluru on August 5.
Shares of Infosys, which were up 1.6 percent on August 6 before the report amid a broader market rebound, trimmed gains to about 0.3 percent after the report.
