Finolex Cables receives order upholding GST demand of ₹12.28 Lakhs
Finolex Cables received an order on 21.05.2026 from the Additional Commissioner, Lucknow, rejecting its appeal against a GST demand. The demand of ₹12.28 Lakhs for FY 2020-21, related to ITC mismatch, has been upheld. The company can appeal further.
The total tax demand of ₹12.28 Lakhs is a relatively small amount for Finolex Cables Limited and is not expected to have a major impact on the company's operations.
The company has received an unfavorable order from the tax authorities, upholding a demand which, while not significant in impact, represents a negative development.
Finolex Cables Limited has received an order dated 21.05.2026 from the Additional Commissioner, Grade-II Appeal, Lucknow, Uttar Pradesh. This order upholds a previous order in original, rejecting the company's appeal against a demand raised during the scrutiny of GST returns for FY 2020-21.
The demand pertains to a mismatch in Input Tax Credit (ITC) and Credit Notes. The company has the option to file a further appeal before the Appellate Authority.
The total tax demand amounts to ₹12,28,985, comprising ₹6,79,561 in tax, ₹4,81,468 in interest, and ₹67,956 in penalty. The company has stated that this amount does not have a major impact on its operations.
What to do with a filing like this
Finolex Cables Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Finolex Cables Limited. Read the original for the full detail.