Finolex Cables Limited is in receipt of the Order issued by Commercial Tax Officer, Ward- 5, Chandigarh dated December 20, 2025. Demand under Show Cause Notice is confirmed by Commercial Tax Officer. Show Cause Notice was issued for demand of GST on mismatch of ITC and other issues for Fiscal Year 2021-22.
It is alleged that the Company has taken credit for which supplier has uploaded HSN's different from those are used by the Company. Tax Demand is INR 220,051,844/- (Tax INR 118,252,691/-, Interest INR 89,923,883/- Penalty INR 11,875,270/-) which is not having major impact on operations of the Company.
