Finolex Cables has received an order from the Dy. Commissioner – GST, Lucknow, Uttar Pradesh, related to a mismatch of Input Tax Credit (ITC) during FY 2021-22. The company has the option to appeal the order. The tax demand is ₹22,57,609, including tax, interest, and penalty. The company believes this will not significantly impact its operations.
Order Details
Finolex Cables received an order on December 22, 2025, from the Dy. Commissioner – GST, Lucknow, Uttar Pradesh, regarding a mismatch of Input Tax Credit (ITC). The order confirms a demand under a Show Cause Notice issued for the financial year 2021-22.
Financial Impact
The total tax demand amounts to ₹22,57,609, comprising of the following:
The company stated that the matter relates to an alleged excess credit taken due to a mismatch of ITC with the GST Portal. While the order is significant, Finolex Cables anticipates that it will not have a major impact on the company’s overall operations. The company has the option to file an appeal before the Appellate Authority.
Source: BSE