Karnataka Authorities Withdraw GST Notice Sent to Infosys

• Infosys has been temporarily relieved of the Rs 32,403 crore GST demand as Karnataka state tax authorities withdraw the notice.
• The company has been directed to respond to the central GST intelligence agency instead.
• Infosys informed stock exchanges about the withdrawal and the directive to submit further response to the Directorate General of GST Intelligence (DGGI).
• The controversy began on July 31 when Infosys was accused of evading GST on services from its overseas branches between 2017 and 2022, which the company denied.
• NASSCOM supported Infosys, raising concerns about the impact on business sentiment and emphasizing the need for clarity in tax regulations to avoid such disputes.

Source: Times Of India