The Exchange has sought clarification from Infosys Ltd with reference to the media report appearing on https://economictimes.indiatimes.com/news/company/corporate-trends/dggi-issues-rs-415-crore-showcause-notice-to-infosys-over-alleged-ineligible-itc-refunds/articleshow/124375835.cms ....
INFY · price
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BSE has asked Infosys to clarify a media report stating that the DGGI (GST intelligence wing) issued a Rs 415 crore showcause notice to the company over allegedly ineligible Input Tax Credit (ITC) refunds. A showcause notice is a preliminary step where the tax authority asks the company to explain its position before deciding on further action. Infosys is yet to respond publicly on whether the report is accurate and what its stance on the alleged claims is. The matter relates to GST refunds and does not involve any SEBI or securities market action at this stage.
Shareholders should wait for Infosys' official clarification and response to the DGGI notice. A Rs 415 crore demand, if upheld, would be a notable one-time hit, but showcause notices are routine and often settled or contested without full amount being payable. No immediate impact on stock price is expected unless the company confirms or downplays the notice sharply.