India’s second-largest IT firm, Infosys Ltd, received a goods and services tax (GST) demand closure notice on Friday, 6 June 2025. The notice relieved the company from a ₹32,403 crore tax order from the Director General of GST Intelligence (DGGI).
“The company has today received a communication from the Director General of GST Intelligence (DGGI) closing the pre-show cause notice proceedings for the financial years 2018-19 to 2021-22,” according to the BSE filing.
The data also showed that the DGGI earlier asked for a ₹32,403 crore GST demand notice for the issue of non-payment of IGST under the Reverse Charge Mechanism.
“With the receipt of today’s communication from DGGI, this matter stands closed,” said Infosys in the BSE filing.
Infosys Share Price
Infosys shares closed 0.62 per cent higher at ₹1,564.05 after Friday’s stock market session, compared to ₹1,554.35 at the previous market close. The company received the GST demand closure notice after stock market operating hours on 6 June 2025.
IT major shares have given stock market investors more than 126 per cent returns on their investments in the last five years and 4.55 per cent in the last one-year period.
On a year-to-date (YTD) basis, the shares have lost 16.71 per cent in 2025. However, the stock is trading 3.74 per cent higher in the last one-month period.
Infosys shares hit their 52-week high level at ₹2,006.80 on 13 December 2024, while the 52-week low level was at ₹1,307.10 on 17 April 2025, according to the data collected from the BSE website. The IT major’s market capitalisation (M-Cap) was at ₹6,49,739.73 crore as of Friday, 6 June 2025.
Infosys Q4 Results
Infosys’s January to March quarter results for the financial year ended 2024-25 witnessed an 11.75 per cent year-on-year (YoY) fall to ₹7,033 crore, compared to ₹7,969 crore in the same period a year ago, according to the consoldiated financial statements.
The revenue from core operations for the fourth quarter rose 8 per cent YoY to ₹40,925 crore from ₹37,923 crore in the corresponding quarter of the last financial year.
Read all stories by Anubhav Mukherjee
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