GST Notice:- Infosys Shares Drop
Infosys Shares Drop 1% :- Infosys received a pre-show cause notice from Karnataka State GST authorities for alleged GST evasion of Rs 32,403 crore for the period July 2017 to March 2022.
Company’s Response:-
Infosys refuted the notice, stating that GST is not applicable on expenses claimed by DGGI. Company paid all dues and is fully in compliance with central and state regulations. Infosys Shares Drop
Share Price Impact:-
Infosys shares fell almost 1% on August 1, trading at ₹1,850 on the NSE, extending the previous day’s 0.5% fall.
Company’s Performance:-
Despite the current situation, Infosys share price has gained over 20% since January, outperforming the NSE Nifty 50 index ¹. The company reported a 7.1% rise in net profit to ₹6,368 crore and a 3.6% increase in revenue to ₹39,315 crore in Q1 FY25 .
