Infosys share price falls 1% as company gets ₹32,000 crore GST evasion notice: What IT major said

Infosys shares fell almost 1 per cent today (August 1) after the IT major received a GST notice citing a ₹32,000 crore tax evasion. The company refuted the notice even after which Infosys shares were trading at ₹1,850 on the NSE. The stock extended the previous day’s 0.5 percent fall.

What tax evasion notice on Infosys noted?
The Directorate General of GST Intelligence said that Infosys is “liable to pay IGST under reverse charge mechanism on supplies received from branches located outside India to the tune of ₹32,403.46 crores for the period 2017-18 (July 2017 onwards) to 2021-22.”