CGST Goa Issues ₹16 Lakh Demand Order Against Finolex Cables
Finolex Cables Limited has received an order dated 26.12.2025 from the Superintendent, Range-IV, Division-IV, CGST Goa. The order confirms a demand under a Show Cause Notice concerning ineligible Inpu...
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Why is Finolex Cables Limited in the news today?
Finolex Cables Limited (FINCABLES) is in the news due to the company has received a tax demand order, which is a negative event. however, the amount is relatively small and the company believes it will not significantly impact operations, and they have the option to appeal, making the overall sentiment neutral.
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CGST Goa Issues ₹16 Lakh Demand Order Against Finolex Cables
December 27, 2025, 06:40 AM
Top Queries to Ask About Finolex Cables Limited
Finolex Cables Limited has received an order dated 26.12.2025 from the Superintendent, Range-IV, Division-IV, CGST Goa. The order confirms a demand under a Show Cause Notice concerning ineligible Input Tax Credit (ITC) availed during the financial years 2018-19 to 2022-23.
The company alleges that the GST credit taken on services availed from the Depositary and Register and Transfer Agent is ineligible. The total tax demand amounts to ₹15,98,544, comprising ₹7,99,272 in tax and ₹7,99,272 in penalty.
Finolex Cables has stated that this demand is not expected to have a major impact on the company's operations. The company retains the option to file an appeal before the Appellate Authority against this order.
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