Complete relief to Infosys on reverse-charge GST likely

The Central Board of Indirect Taxes and Customs (CBIC) is considering modifying its June 26, 2024 circular, in what could pave the way for quashing the entire Goods and Service Tax liability of information technology giant Infosys for its business-as-usual fund transfers to overseas branches, according to an official source. The change would enable the expunging of the tax burden on the firm, and others who received similar notices, even in cases where “exempt services’ are involved, the source added.