Infosys bags Rs 1,320 crore contract to build GST Network

Infosys has bagged a Rs 1,320-crore contract to build GST Network system, which will be used for the roll out of proposed Goods and Services Tax in the country. "The contract for GST Network has been awarded to Infosys. It will be a 5-year contract worth Rs 1,320 crore beginning October 1," sources said. Four other companies-TCS, Wipro, Tech Mahindra and Microsoft had bid for building the network across the country, sources added. 

The government had floated the Request for Proposal (RFP) for setting up GSTN on April 21. GSTN is a company formed to connect databases of states with the Centre and provide IT infrastructure. The government plans to implement the single rate GST from April 1, 2016, but it might be delayed as the constitution amendment bill for its implementation is yet to be approved by the Rajya Sabha.