Brands
Taxing times for Infosys as GST mismatch triggers Rs 40.7 lakh penalty
MUMBAI: When numbers refuse to tally, even the cleanest balance sheets face a reality check. Infosys Limited has received a communication from the Deputy Commissioner of Commercial Taxes seeking collection of a penalty amounting to Rs 40,72,525, following an alleged mismatch in GST filings.
According to the disclosure made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, the demand was received on January 1, 2026, at 10:30 IST. The penalty relates to the financial year 2018–19 and stems from discrepancies between credit notes declared in GSTR-1 and those reported in GSTR-9, leading to an alleged under-declaration of turnover.
The notice follows an order passed by the tax authority after identifying inconsistencies during the reconciliation of returns. While the issue traces back several years, it has resurfaced as part of the tax department’s review and compliance enforcement process.
Infosys, however, played down the financial significance of the demand, stating that the penalty will not have any material impact on its financial position, operations, or business activities. The company clarified that the matter is limited in scope and does not affect its ongoing performance or outlook.
The development underscores how legacy compliance issues continue to surface even for India’s largest corporates, particularly as tax authorities intensify scrutiny of historical GST filings and reconciliation gaps.
For Infosys, the episode appears to be more about paperwork than pain, a reminder that in the world of taxes, even small mismatches can come back with a bill.
Brands
Reliance Retail FY26 revenue rises 11.8 Per Cent to Rs 3.7 lakh crore
Q4 revenue up 11.1 Per Cent, hyperlocal orders surge 4x, PAT steady
MUMBAI: Reliance Retail isn’t just ringing up sales, it’s ringing doorbells faster than ever. Reliance Retail Ventures Limited (RRVL) reported a steady FY26 performance, with growth powered by store expansion, a sharp surge in hyperlocal commerce, and consistent traction across grocery, fashion and jewellery. For the full year, revenue rose 11.8 per cent year-on-year to Rs 3,70,026 crore. In the January–March quarter, revenue from operations climbed 11.1 per cent to Rs 87,344 crore, up from Rs 78,622 crore a year earlier.
Operating performance remained stable, with Q4 EBITDA inching up 3.1 per cent YoY to Rs 6,921 crore from Rs 6,711 crore. However, quarterly profit after tax held steady at Rs 3,563 crore. For the full fiscal, PAT grew 11.7 per cent to Rs 13,842 crore.
Expansion remained a key lever. RRVL added 1,564 new stores during FY26, while simultaneously scaling its digital and hyperlocal commerce play. The latter emerged as a standout, with daily orders surging more than fourfold year-on-year in Q4, underlining a clear shift towards faster, localised fulfilment.
In grocery, large-format stores maintained momentum, aided by festive demand and the expansion of Smart Bazaar, which crossed 1,000 stores. Promotional campaigns such as ‘Full Paisa Vasool’ delivered record results, with sales rising 26 per cent YoY.
Digital commerce also picked up pace. JioMart added 5.8 million new users in Q4, nearly doubling its registered base year-on-year. Hyperlocal orders grew 29 per cent sequentially and over 300 per cent annually during the quarter.
Fashion and lifestyle saw steady traction. Ajio recorded a 23 per cent YoY rise in average bill value, while fast-fashion platform Shein crossed 11 million app installs, scaling rapidly with expanding product lines.
The jewellery business added further shine, with average bill value jumping 53 per cent YoY, largely driven by rising gold prices and sustained consumer demand.
Commenting on the shift, RRVL executive director Isha Ambani said hyperlocal commerce has become a structural growth driver, with orders rising more than fourfold over the year.
Looking ahead to FY27, the company is betting on technology to deepen engagement. The focus, Ambani noted, will be on AI-led merchandising, sharper pricing strategies and disciplined execution turning scale into sustained customer value.
In short, the carts are fuller, the clicks are quicker, and the next phase looks less about reach and more about precision.
