Infosys challenges Rs 414.88 crore GST refund notice; no demand yet

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On the reaction day the stock moved 0.6 pts more than Nifty 100 and 0.7 pts more than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

The Directorate General of GST Intelligence issued a notice accusing Infosys of wrongly claiming refunds for services supplied by its overseas branches. It sought Rs 414.88 crore before interest and penalties. Infosys responded to earlier information requests and filed a court challenge in Karnataka on 19 September 2025. As of 9 October, no tax demand had been raised, and the company said it had complied with GST refund rules.

Likely market impact

Infosys says there is no material impact and no current tax demand, but the disputed amount creates potential financial uncertainty.