Why Odisha GST department has imposed penalty on Infosys
IT services major Infosys said that the Odisha GST authority has imposed a penalty of Rs 1.46 lakh on the company. The penalty has been imposed on Infosys for availing ineligible input tax credit. Infosys announced the same in an exchange filing.
The company said that it received the order on April 22, 2024, passed by Assistant Commissioner of State, Odisha (GST) for the collection of a penalty of Rs 1,46,873.
The penalty has been imposed on credit availed on ineligible Input Tax Credit for 2018-19, the filing said. In the stock exchange filing, Infosys clarified that there was no material impact on financials, operations or other activities of the company.
