Infosys receives Rs 26.5 lakh IGST demand; IHC to sell stake in Adani units

Infosys in a regulatory filing today said that it has received a demand order for collection of GST along with interest and penalty. The total demand including penalty comes to Rs 37.75 lakh. The demand order cum penalty notice includes IGST of Rs 26.5 lakh. This also includes a penalty of Rs 2.65 lakh, and interest amount of Rs 8.6 lakh.

The reason for the demand from tax authorities is non-receipt of foreign inward remittance of export proceeds for the period between October 2021 – November 2021 within stipulated timelines, said the company in its filing on the Bombay Stock Exchanges.