New Delhi: The Directorate General of GST Intelligence has cleared Infosys from the Rs 32000 crore GST evasion case. In a notice received from DGGI, Infosys said that the DGGI has closed the pre-show cause notice proceeding against them for the financial year between 2019 and 2022.
“In continuation of our earlier communications on July 31, 2024; August 1, 2024; and August 3, 2024, on GST, this is to inform you that the company has today received a communication from the Director General of GST Intelligence (DGGI), closing the pre-show cause notice proceedings for the financial years 2018-19 to 2021-22,” the company said in a stock exchange filing late on Friday evening.
With the receipt of the communication from DGGI, “this matter stands closed,” India’s second-largest IT company, Infosys, said. Infosys had earlier received the notice from DGGI in the issue of nonpayment of GST for the period between July 2017 and March 2022. DGGI claimed that the company is evading GST under the reverse charge mechanism. The charged amount is estimated to be around Rs 32000 crore.
Infosys Quarterly Results 2025
The January-March quarter results for Infosys were out in April. The company has reported a fall in profit of around 11 percent YoY. The company minted a profit of around Rs 7033 crore in Q4 FY25. For the same quarter Q4 of previous fiscal year FY24,the profit was around Rs 7969. However, the company has seen a surge of around 8 percent in the revenue generation. The January – March quarter revenue earnings from operations stood at Rs 40925 crore as compared to Rs 37923 crore in the corresponding period of the previous fiscal.
Infosys Share Price
The stocks were trading at Rs 1564 at the closure of the market on Friday, June 6, 2025. The company gave a return of around 5 percent in a previous month. The quarterly investment return is negative (around -7 returns), and the stocks have given a mere 2.35 percent return in one year. However, the long-term returns of a multibagger stock is estimated to be around a whopping 120 percent.
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The Directorate General of GST Intelligence (DGGI) has closed its investigation into Infosys, dismissing allegations of ₹32,000 crore in GST evasion. While Infosys saw a dip in Q4 FY25 profits, its revenue surged. This development likely impacts Infosys’s share price, which has shown mixed performance recently. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
