IT & ITeS sector in a tax quandary

New Delhi: The country’s $147 billion IT and ITeS industry, including the back offices of several multinationals such as Genpact and WNS Global, has sent an urgent request to the government on denial of export status that has made them liable to 18% goods and services tax.

The industry fears it could cascade into denial of refunds on taxes paid on inputs, as well as audits, probe and tax demand.

The industry has sought immediate government intervention in the matter.