IT companies likely to get ‘tax evasion’ notices after Rs 32,000 crore GST demand sent to Infosys
The IT company said the Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of Rs 32,403 crore for the period July 2017 to March 2022 towards the expenses incurred by overseas branch offices of Infosys Limited, and added that it has responded to the pre-show cause notice.
Following a show cause notice issued to IT bellwether Infosys, tax authorities are likely to issue more such notices to major infotech services firms soon, Reuters reported citing sources. The notices will be issued in the follow-up to scrutiny of alleged evasion of tax on services by their overseas offices, it added.
The IT company said the Karnataka State GST authorities have issued a pre-show cause notice for payment of GST of Rs 32,403 crore for the period July 2017 to March 2022 towards the expenses incurred by overseas branch offices of Infosys Limited, and added that it has responded to the pre-show cause notice.
