{"id":840333,"date":"2024-08-02T10:36:33","date_gmt":"2024-08-02T05:06:33","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=840333"},"modified":"2024-08-02T10:36:33","modified_gmt":"2024-08-02T05:06:33","slug":"nasscom-backs-infosys-says-rs-32000-crore-gst-notice-shows-lack-of-understanding-of-industry-model","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/08\/02\/nasscom-backs-infosys-says-rs-32000-crore-gst-notice-shows-lack-of-understanding-of-industry-model\/","title":{"rendered":"Nasscom backs Infosys; says Rs 32,000-crore GST notice shows lack of understanding of industry model"},"content":{"rendered":"<p>A day after Infosys acknowledged the receipt of a notice for alleged evasion of over Rs 32,000 crore ($3.8 billion) in integrated goods and services tax (IGST), industry body, nasscom said that the recent episode reflects GST enforcement mechanism\u2019s lack of understanding of IT industry operating model. It added that it is not a case of \u2018import of service\u2019 by the head office from the branch, as made out to be.<\/p>\n<p>Nasscom in a statement said, \u201cRecent media reports of a GST demand of over Rs 320 billion reflects a lack of understanding of industry\u2019s operating model. This is an industry wide issue, and multiple companies are facing avoidable litigation, uncertainty, concerns from investors and customers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A day after Infosys acknowledged the receipt of a notice for alleged evasion of over Rs 32,000 crore ($3.8 billion) in integrated goods and services tax (IGST), industry body, nasscom said that the recent episode reflects GST enforcement mechanism\u2019s lack of understanding of IT industry operating model. It added that it is not a case of \u2018import of service\u2019 by the head office from the branch, as made out to be. Nasscom in a statement said, \u201cRecent media reports of a GST demand of over Rs 320 billion reflects a lack of understanding of industry\u2019s operating model. This is an [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59,4,10],"tags":[],"class_list":["post-840333","post","type-post","status-publish","format-standard","hentry","category-it-2-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/840333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=840333"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/840333\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=840333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=840333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=840333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}