Overview

• DGGI issued a show-cause notice on August 12 seeking Rs 414.88 crore over alleged ineligible input tax credit refunds.
• Infosys filed a writ petition in the Karnataka High Court on September 19 contesting the notice’s validity.
• The notice alleges the company counted services delivered abroad in export turnover, leading to excess refunds under Section 54.
• Infosys told stock exchanges it supplied information since May, consulted external tax and legal advisors, and remains compliant with GST laws.
• Shares were marginally lower in Thursday trade following the clarification, with declines reported near 0.1–0.24%.