Finolex Cables Limited has informed the Exchange about Action(s) initiated or orders passed
FINCABLES · price
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Finolex Cables Limited has disclosed receipt of an order from the Additional Commissioner, Grade-II Appeal, Lucknow, dated 21 May 2026. During GST return scrutiny for FY 2020-21, a tax demand was raised due to mismatch of Input Tax Credit (ITC) and Credit Notes. The company had previously filed an appeal against an earlier order, but the Additional Commissioner has now rejected the appeal and upheld the original demand. The total tax demand stands at Rs. 12,28,985 comprising tax of Rs. 6,79,561, interest of Rs. 4,81,468, and penalty of Rs. 67,956. The company states it may file a further appeal before the Appellate Authority.
The financial impact of approximately Rs. 12.3 lakh is relatively small for a company of Finolex Cables' size and is not expected to materially affect operations. However, the order signals a loss in the first level of appeal, and further legal costs may arise if the company pursues additional appeals.