Finolex Cables Receives Order Regarding E-way Bill Mismatch; Tax Demand Confirmed
Finolex Cables Limited (FCL) has received an order from the Additional Commissioner, Grade-II Appeal, Lucknow Sector -9, Uttar Pradesh, concerning alleged discrepancies in invoice details on generated E-way bills. The determination leads to a specified tax demand totaling Rs. 1,29,698/-.The company received the direction of the order on June 12, 2026. The Commissioner's confirmation followed an investigation into the matter, which was initiated due to a mismatch of Invoice details on E-way bills generated for goods movement.
Finolex Cables had previously stated that double E Way bills were created due to technical glitches, and the movement of goods took place only against one of these bills. However, the Commissioner Appeals confirmed the order, noting specifically that such E-Way bills were not cancelled within the specified timeframe. The alleged violation relates to the generation of E-way bills twice.
The financial impact includes a tax demand structured across multiple components:
| Particulars | Amount (Rs.) |
|---|---|
| Tax | 40,094/- |
| Interest | 49,510/- |
| Penalty | 40,094/- |
| Total Tax Demand | 1,29,698/- |
Finolex Cables Limited stated that the tax demand does not have a major impact on the operations of the company. The order provides FCL with the option to file an appeal before the Appellate Authority.
FINCABLES Stock Price Movement
On Friday, Finolex Cables Limited shares edged up to close at ₹1035.8, marking a gain of 2.18%. The stock movement was supported by a trading volume of 305,861 shares throughout the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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