Finolex Cables to Appeal GST Order
Finolex Cables Ltd. announced receipt of an order dated March 30, 2026, from the Additional Commissioner, Central GST, Deharadun, Uttarakhand. The order, received March 31, 2026, addresses a demand related to a mismatch of Input Tax Credit (ITC), discrepancies in Electronic Way Bills, and delayed payments to creditors.The company stated that the order appears ill-considered and will be appealed before the Appellate Authority. The tax demand amounts to Rs. 29,46,09,345, comprising Rs. 29,44,22,806 in tax and Rs. 1,86,539 in penalty. Finolex Cables indicated that this demand is not expected to have a major impact on the company's operations.
Details of the Order:
| Particulars | Details |
|---|---|
| Authority | Additional Commissioner, Central GST, Deharadun, Uttarakhand |
| Nature of Action | Confirmation of demand under Show Cause Notice for mismatch of ITC, E way Bill differences, and late payments to creditors |
| Date of Receipt | March 31, 2026 |
| Alleged Violations | Mismatch of ITC, discrepancies in E way bills, and late payment to creditors |
| Financial Impact | Tax Demand of Rs. 29,46,09,345 (Tax Rs. 29,44,22,806, Penalty Rs. 1,86,539), not expected to have a major impact on operations |
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