Sensex opens strong, surges by 761.75 points, trading at 79,647.97
Among the top gainers were heavyweight stocks from the banking and IT sectors. HDFC Bank, ICICI Bank, and Infosys led the charge, contributing significantly to the Sensex’s gains.
Infosys
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Infosys faces GST notice for alleged tax evasion of ₹32,000 crore
Infosys has received a notice from the Directorate General of GST Intelligence alleging tax evasion of over ₹32,000 crore. The notice claims the company failed to pay IGST on supplies from overseas branches, leading to significant discrepancies in their tax filings.
Canada fines Infosys Rs 82 lakh as tech giant’s regulatory woes mount
Earlier this year, in January, Infosys faced a penalty of $225 from the U.S. taxation authority for allegedly underpaying modified business tax for two quarters. Similarly, the Florida Department of Revenue imposed a penalty of $76.92 in August 2022 for tax payment shortfalls.