Infosys, a global IT giant, is currently embroiled in controversy over allegations of evading crores in taxes. The Directorate General of GST Intelligence is investigating the company for allegedly evading over Rs 32,000 crores in integrated goods and services tax (IGST) from July 2017 to the fiscal year 2021-2022. This investigation, based on a document dated July 30, 2024, focuses on services Infosys received from its foreign branches during this period, according to reports by Reuters.
Infosys, in response to the allegations, stated in an exchange filing that it has settled all dues and maintains that GST does not apply to the expenses in question. The company provides technology support for the Goods and Services Tax Network (GSTN) portal, with its contract set to end in September 2024.
As Infosys grapples with this massive GST bill, the internet has revived Narayan Murthy's infamous "70-hour" workweek comment, turning it into a fresh round of memes and online trials. The resurfacing of this comment highlights how the internet never forgets, and both Infosys and Murthy are now under the spotlight.