Infosys Hit with Rs 3 Crore Tax Penalty Over Alleged Discrepancies in ITC and Payments

Infosys has been penalized ₹3 crore by the tax authorities for alleged discrepancies related to Input Tax Credit (ITC) and payments under the GST regime. The penalty was imposed after an audit revealed inconsistencies in the company's GST filings, particularly concerning the availing of ITC and the payments made under the GST system. Infosys is expected to challenge the penalty, citing its compliance with GST laws. This incident highlights the stringent scrutiny faced by large corporations in India regarding their tax practices and the ongoing challenges in the implementation of the GST system.