Intimation of Original Order dated 21.05.2026 issued by Additional Commissioner, Grade-II Appeal, Lucknow Sector 9 Uttar Pradesh
FINCABLES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Finolex Cables Ltd has received an unfavorable order from the Additional Commissioner, Grade-II Appeal in Lucknow regarding a GST return scrutiny for FY 2020-21. The dispute involves a mismatch of Input Tax Credit (ITC) and Credit Notes. The company's appeal against an earlier order has been rejected, and the original order has been upheld. The total tax demand is 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 has stated that this demand does not have a major impact on its operations and retains the option to file a further appeal with the Appellate Authority.
The financial impact is relatively minor at approximately Rs. 12.3 lakhs for a company of this size. While the appeal loss is unfavorable, the quantifiable amount is not material to the company's financials, and shareholders need not be overly concerned unless further appeals fail and additional penalties are imposed.