{"id":841542,"date":"2024-08-06T09:38:06","date_gmt":"2024-08-06T04:08:06","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=841542"},"modified":"2024-08-06T09:38:06","modified_gmt":"2024-08-06T04:08:06","slug":"infosys-coded-indias-tax-network-it-got-a-4-billion-bill-2","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/08\/06\/infosys-coded-indias-tax-network-it-got-a-4-billion-bill-2\/","title":{"rendered":"Infosys coded India\u2019s tax network, it got a $4 billion bill"},"content":{"rendered":"<p>Software outsourcing from India took off after the Y2K scare of the late 1990s by steering a vast pool of cheap engineering talent toward programming. And because the industry earned dollars, it got to keep most of its profit. New Delhi\u2019s tax bureaucracy couldn\u2019t come up with a plan to slaughter the golden goose.<\/p>\n<p>It\u2019s never too late, however, to sharpen the knives. Take the notice last week to Infosys Ltd. for allegedly evading India\u2019s goods and services tax, or GST, to the tune of 324 billion rupees ($4 billion) over five years. That\u2019s its annual operating profit. Infosys said Wednesday it has paid all that it is legally required to \u2014 and even investors don\u2019t believe that India\u2019s second-largest software exporter needs to provide for the alleged liability. Infosys shares, the best performers on the benchmark Nifty 50 index over the past three months, have fallen 2.5% on the news.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Software outsourcing from India took off after the Y2K scare of the late 1990s by steering a vast pool of cheap engineering talent toward programming. And because the industry earned dollars, it got to keep most of its profit. New Delhi\u2019s tax bureaucracy couldn\u2019t come up with a plan to slaughter the golden goose. It\u2019s never too late, however, to sharpen the knives. Take the notice last week to Infosys Ltd. for allegedly evading India\u2019s goods and services tax, or GST, to the tune of 324 billion rupees ($4 billion) over five years. That\u2019s its annual operating profit. Infosys said [&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-841542","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\/841542","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=841542"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/841542\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=841542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=841542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=841542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}