Infosys fined over ₹66 lakh in Singapore for delay in GST payment

Infosys penalised in Singapore for GST delay; acquires 75% stake in Telstra's Versent Group to advance AI-led cloud and digital offerings in Australia

IT major Infosys Ltd has been slapped with a penalty of SGD 97,035.90 (over ₹66 lakh) by the Inland Revenue Authority of Singapore (IRAS) for alleged delays in Goods and Services Tax (GST) payment for the April–June 2025 period, the company said in an exchange filing on Thursday.

 

The Bengaluru-headquartered firm said it received the order from the Singapore tax authority at 9:30 am IST on Wednesday. The company clarified that the penalty relates to GST obligations in Singapore and does not have any material impact on its financial position, operations, or other activities.

 

JV with Telstra in Australia

Earlier today, Infosys announced a joint venture with Telstra, Australia’s largest telecommunications and technology company.

 

 

As part of the pact, Infosys will acquire a 75 per cent stake in Versent Group, a wholly owned subsidiary of Telstra delivering cloud and digital transformation, for Australian dollar 233.25 million (about ₹1,300 crore). Telstra will retain the remaining 25 per cent shareholding. Infosys will have operational control over the entity.

 

The Bengaluru-based company said the partnership will accelerate its AI-led strategy and deliver advanced cloud and digital solutions for Australian businesses.

 

The  IT major's stock gained as much as 1.82 per cent during intraday trade to ₹1,452.50, its biggest single-day rise since July 15, before easing to ₹1451.95 at 1:00 pm, up 1.8 per cent on the BSE.

 

Infosys profit drops in Q1

For the June quarter, Infosys reported a net profit of ₹6,921 crore, down 1.6 per cent sequentially. Revenue rose 3.3 per cent quarter-on-quarter to ₹42,279 crore.

 

On the back of deal wins worth $3.8 billion during the quarter, the company raised the lower end of its full-year revenue growth guidance to 1 per cent from nil previously forecast.