New Delhi, August 14(HS):

The Inland Revenue Authority of Singapore (IRAS) has imposed a penalty of 97,035.9 Singapore dollars (over ₹66 lakh) on Indian IT giant Infosys for matters related to Goods and Services Tax (GST) payments for the April–June period.

In a regulatory filing to the stock exchanges on Thursday, Infosys disclosed that it had received the penalty notice from IRAS on August 13. According to the company’s statement, the fine pertains to GST payment obligations in Singapore for the aforementioned quarter.

Infosys emphasised that the penalty — while notable in amount — will have no material impact on its financial position, operational performance, or other business activities.

Headquartered in Bengaluru, Infosys is one of India’s leading multinational IT companies, providing technology, business consulting, and outsourcing services across the globe. The company enjoys a significant international presence, with Singapore being one of its key operational markets in Asia-Pacific.

This regulatory action highlights the increasing scrutiny on multinational corporations when it comes to cross-border tax compliance, underscoring the importance of timely and accurate GST reporting in overseas jurisdictions.

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Hindusthan Samachar / Jun Sarkar