Under the ongoing GSTN project, Infosys has started importing hardware, including servers and network equipment devices, payment for which will be made by GSTN starting October, according to a senior GSTN official. The centre awarded Infosys the five-year GSTN project in September last year, and over the last year, Infosys has already been paid close to Rs.150 crore for software-related work, according to a company executive. For now, it is not clear if Infosys factored in this payment of $60 million from the GSTN project when the management first gave its annual growth outlook, expecting a dollar revenue growth of at-best 13.8%, in April. The current GSTN project is unlike most technology contracts won by companies in the past. For the current GST Network project, around Rs.400 crore for hardware costs and Rs.150 crore for software-development related costs have been earmarked.

Source: Mint August 23, 2016 21:00 UTC