Infosys Faces Penalty From Odisha GST Dept; Here's Why

IT services major Infosys on Tuesday said the Odisha GST authority has imposed a penalty of Rs 1.46 lakh on the company for availing ineligible input tax credit.

Infosys in an exchange filing said it received the order on April 22, 2024, passed by Assistant Commissioner of State, Odisha (GST) for the collection of a penalty of Rs 1,46,873.

The penalty has been imposed on credit availed on ineligible Input Tax Credit for 2018-19, the filing said.

Infosys clarified that there was no material impact on financials, operations or other activities of the company.

Over the delay in filing, the company said it was in the process of determining further steps post checking the veracity.

Source : https://www.news18.com/business/infosys-faces-penalty-from-odisha-gst-dept-heres-why-8864586.html