Announced Wed, 1 Apr · 12:54 IST
GST tax demand of Rs. 29.46 cr; company to appeal
Regulatory & Legal View source PDF
FINCABLES · price
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+2.9%1-day move
₹774.00
prior close
₹805.95
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AI summary
Finolex Cables received an order dated March 30, 2026 from the Additional Commissioner, Central GST, Dehradun, confirming a tax demand of Rs. 29.46 crores (tax Rs. 29.44 cr + penalty Rs. 1.87 lakh). Allegations include mismatch in input tax credit, E-way bill differences, and late payments to creditors. The company termed the order 'ill-considered and without application of mind' and will appeal before the Appellate Authority. It says the demand will not materially impact operations.
Likely market impact
Rs. 29.46 cr tax demand being appealed; company says no major operational impact, but short-term overhang likely.