Finolex Cables Limited has informed the Exchange about Action(s) initiated or orders passed
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Finolex Cables has received an order dated 24 December 2025 from the Superintendent of CGST, Ahmedabad, confirming a tax demand originally raised through a Show Cause Notice. The dispute relates to Input Tax Credit (ITC) that the company availed during FY 2018-19, 2019-20, and FY 2022-23, which the tax authority alleges was not reflected in the company's GSTR-2A returns. The total demand is Rs. 15,19,638, comprising Rs. 13,94,470 in tax and Rs. 1,25,168 in interest. The company received the order online on 30 December 2025 and has the option to appeal before the Appellate Authority. The company has stated that this demand will not have a material impact on its operations.
The tax demand is small relative to the size of the company and is not expected to materially affect operations or financials. However, if the appeal is unsuccessful, the company will need to pay the demand along with any additional interest or penalties, which is a minor negative overhang.