Infosys shares to be in focus after DGGI closed ₹32,403 crore pre-show cause GST notice
India's second-largest IT firm, Infosys Ltd, received a goods and services tax (GST) demand closure notice on Friday, 6 June 2025. The notice relieved the company from a ₹ 32,403 crore tax order from the Director General of GST Intelligence (DGGI).
'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,' according to the BSE filing.
The data also showed that the DGGI earlier asked for a ₹ 32,403 crore GST demand notice for the issue of non-payment of IGST under the Reverse Charge Mechanism.
'With the receipt of today's communication from DGGI, this matter stands closed,' said Infosys in the BSE filing.
Infosys shares closed 0.62 per cent higher at ₹ 1,564.05 after Friday's stock market session, compared to ₹ 1,554.35 at the previous market close. The company received the GST demand closure notice after stock market operating hours on 6 June 2025.
IT major shares have given stock market investors more than 126 per cent returns on their investments in the last five years and 4.55 per cent in the last one-year period.
On a year-to-date (YTD) basis, the shares have lost 16.71 per cent in 2025. However, the stock is trading 3.74 per cent higher in the last one-month period.
Infosys shares hit their 52-week high level at ₹ 2,006.80 on 13 December 2024, while the 52-week low level was at ₹ 1,307.10 on 17 April 2025, according to the data collected from the BSE website. The IT major's market capitalisation (M-Cap) was at ₹ 6,49,739.73 crore as of Friday, 6 June 2025.
Infosys's January to March quarter results for the financial year ended 2024-25 witnessed an 11.75 per cent year-on-year (YoY) fall to ₹ 7,033 crore, compared to ₹ 7,969 crore in the same period a year ago, according to the consoldiated financial statements.
The revenue from core operations for the fourth quarter rose 8 per cent YoY to ₹ 40,925 crore from ₹ 37,923 crore in the corresponding quarter of the last financial year.
Read all stories by Anubhav Mukherjee
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Cognizant accuses Infosys of 'fishing expedition'
BENGALURU: In a new development in the ongoing Infosys-Cognizant trade secrets dispute, recent legal filings from Cognizant have revealed that Infosys 's counterclaims do not accuse CEO Ravi Kumar of any anticompetitive behaviour following his transition to Cognizant in 2023. In its submission to the court, the Nasdaq-listed firm said that Infosys's actions amounted to a 'fishing expedition', causing undue burden and inconvenience to both Kumar and Cognizant. Cognizant argued that Infosys has not presented evidence suggesting Kumar undermined the progress of its healthcare platform, Helix. Cognizant's legal team maintains that all claims advanced by Infosys pertain solely to Kumar's period at Infosys, not his tenure at Cognizant. The filing further asserts that Infosys's request for documents from Kumar's time at Cognizant-after raising concerns over trade secrets and invoking non-compete agreements-is without legal merit. Cognizant had acquired the healthcare software business TriZetto for $2.7 billion in 2014. TriZetto's flagship products, Facets and QNXT, process health insurance claims for millions across the US, relying on confidential trade secrets. Cognizant alleges that Infosys misused these secrets to create its own test case library for Facets, putting it in direct and allegedly unfair competition with TriZetto. Infosys, in turn, has made counterclaims, accusing Cognizant of hindering its development of a rival platform. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
4 hours ago
- Mint
Infosys shares to be in focus after DGGI closed ₹32,403 crore pre-show cause GST notice
India's second-largest IT firm, Infosys Ltd, received a goods and services tax (GST) demand closure notice on Friday, 6 June 2025. The notice relieved the company from a ₹ 32,403 crore tax order from the Director General of GST Intelligence (DGGI). '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,' according to the BSE filing. The data also showed that the DGGI earlier asked for a ₹ 32,403 crore GST demand notice for the issue of non-payment of IGST under the Reverse Charge Mechanism. 'With the receipt of today's communication from DGGI, this matter stands closed,' said Infosys in the BSE filing. Infosys shares closed 0.62 per cent higher at ₹ 1,564.05 after Friday's stock market session, compared to ₹ 1,554.35 at the previous market close. The company received the GST demand closure notice after stock market operating hours on 6 June 2025. IT major shares have given stock market investors more than 126 per cent returns on their investments in the last five years and 4.55 per cent in the last one-year period. On a year-to-date (YTD) basis, the shares have lost 16.71 per cent in 2025. However, the stock is trading 3.74 per cent higher in the last one-month period. Infosys shares hit their 52-week high level at ₹ 2,006.80 on 13 December 2024, while the 52-week low level was at ₹ 1,307.10 on 17 April 2025, according to the data collected from the BSE website. The IT major's market capitalisation (M-Cap) was at ₹ 6,49,739.73 crore as of Friday, 6 June 2025. Infosys's January to March quarter results for the financial year ended 2024-25 witnessed an 11.75 per cent year-on-year (YoY) fall to ₹ 7,033 crore, compared to ₹ 7,969 crore in the same period a year ago, according to the consoldiated financial statements. The revenue from core operations for the fourth quarter rose 8 per cent YoY to ₹ 40,925 crore from ₹ 37,923 crore in the corresponding quarter of the last financial year. Read all stories by Anubhav Mukherjee
&w=3840&q=100)
Business Standard
5 hours ago
- Business Standard
We're the largest gig worker employer in the country: Rapido cofounders
We're currently in over 35 cities with taxis and aim to be present in every district headquarters, says Rapido Surajeet Das Gupta Bengaluru Listen to This Article Bengaluru-based startup Rapido, which joined the unicorn club last year, has disrupted the mobility business by shifting from a commission to a subscription model for drivers across vehicle categories. It recently added taxis, prompting rivals Ola and Uber to follow suit. Rapido cofounders Pavan Guntupalli and Aravind Sanka, in an interview with Surajeet Das Gupta in Bengaluru, discuss their push to become a mass-market mobility player, ongoing goods and services tax (GST) and regulatory challenges, and the government's electric vehicle (EV) drive. Edited excerpts:
