Technology

 IIE DIGITAL DESK: Infosys, a leading Indian IT services company, is under the spotlight following a substantial Rs 32,403 crore demand notice from the Goods and Services Tax (GST) authorities. The notice has raised concerns among investors and market watchers, leading to increased volatility in Infosys' share prices.

The demand notice, which pertains to alleged discrepancies in GST filings, is one of the largest in recent times for the IT sector. Infosys, in its official statement, has acknowledged the receipt of the notice and expressed its intent to challenge the claims. The company maintains that its tax practices are in full compliance with the law and believes the notice is based on a misinterpretation of tax provisions.

Infosys has assured stakeholders that it will pursue all available legal remedies to resolve the issue. The firm is confident in its ability to defend its position and expects minimal impact on its financial health.

Market analysts are closely monitoring the situation, as the outcome could have significant implications for the company's stock performance and investor sentiment. In the meantime, Infosys continues its operations as usual, striving to maintain its reputation as a reliable and compliant entity in the IT industry.

Infosys said the GST payments are eligible for credit or refund against export of IT services, adding that it paid all its GST dues and is fully in compliance with the central and state regulations on the matter. Infosys shares have rallied 17.5 per cent in the past one month.