Finolex Cables has received an order from the Assistant Commissioner, Central Tax, Pune-I Commissionerate, regarding a GST matter. The order partially confirms the demand raised under a Show Cause Notice (SCN) related to disallowance of Input Tax Credit. The total demand amounts to ₹41,19,034, including tax, interest, and penalty. The company has the option to appeal the order.
GST Order Details
Finolex Cables has received an order from the Assistant Commissioner, Central Tax, Division-II (Pimpri), Pune-I Commissionerate, concerning Goods and Services Tax (GST). The order, dated October 16, 2025, addresses issues related to Input Tax Credit.
Financial Impact
The total demand arising from the order amounts to ₹41,19,034, broken down as follows:
- Tax: ₹10,03,297
- Interest: ₹5,22,487
- Penalty: ₹25,93,250
According to Finolex Cables, this demand is not expected to have a major impact on the company’s operations. The company retains the right to appeal the order to the appropriate appellate authority.
Source: BSE